Commerzbank, Germany’s fourth largest bank, Announced It becomes the first among its peers to obtain the cryptocurrency custody license under Article 1, Section 1a, Sentence 1, Number 6 of the German Banking Act (KWG).
The newly acquired license allows Commerzbank to move forward in establishing a full range of digital asset services, with specific emphasis on bitcoin and crypto assets. The initial step involves the creation of a robust, secure and fully compliant platform, designed to serve institutional clients seeking secure custody solutions for their crypto assets.
“Now that we have been granted the license, we have achieved an important milestone,” said Dr. Jörg Oliveri del Castillo-Schulz, COO of Commerzbank. “This highlights our continued commitment to applying the latest technologies and innovations and forms the basis for supporting our clients in the areas of digital assets.”
By obtaining this license, the bank aims to build a secure environment that not only fosters trust but also serves as a catalyst for future advancements in the digital asset space.
