NEWSLETTER
Two of Germany's five largest banks, Commerzbank and DZ Bank, are launching bitcoin and cryptocurrency trading services amid growing institutional demand.
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Commerzbank, the country’s second-largest bank by number of branches, has signed a deal with Deutsche Boerse subsidiary crypto Finance to provide trading access to corporate clients. DZ Bank, the country’s second-largest lender, is enabling its 700 cooperative banks to offer bitcoin and cryptocurrency trading through a partnership with the Boerse Stuttgart exchange.
The moves come just weeks after Switzerland’s Cantonal Bank of Zurich began offering retail bitcoin and cryptocurrency services. Major banks around the world are increasingly embracing bitcoin and cryptocurrencies following the successful launch of the first bitcoin ETFs in the United States.
“Our digital asset offering enables our corporate clients to take advantage of the opportunities presented by bitcoin and Ether for the first time,” said a Commerzbank executive.
DZ Bank and Commerzbank represent more than $1 trillion in combined assets under management. Their entry significantly expands mainstream access to bitcoin in Europe’s largest economy. DZ Bank’s COO said that professional investors are rapidly investing in bitcoin and other cryptocurrencies, making regulated services crucial for portfolio diversification and risk management.
These changes mark a milestone for the integration of bitcoin into European finance. Thanks to the access of major banks, bitcoin is becoming more and more widespread.
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