Commerzbank becomes first German bank to receive crypto custody licence
- Commerzbank granted first crypto custody license among German full-service banks
- Aims to develop a range of digital asset services, with a focus on crypto assets
- Plans to establish a secure and compliant platform for institutional clients to access crypto asset custody
- Applied for the license in April 2022, beating competitor Deutsche Bank’s application in June
- Jörg Oliveri del Castillo-Schulz, COO, sees this as an “important milestone” for supporting customers in digital assets
- Commerzbank serves the German Mittelstand, 26,000 corporate groups, and nearly 11 million private and small-business customers.