DZ Bank AG, one of Germany’s largest banks, has launched its own digital assets custody platform using blockchain technology. The platform will cater to institutional clients, offering them crypto securities such as the crypto bond from Siemens. DZ Bank believes that distributed ledger technology (DLT) will play a significant role in the capital market business in the next decade. The bank also plans to offer institutional investors and private customers the ability to buy cryptocurrencies like Bitcoin in the future. To achieve this, DZ Bank has applied for a crypto custody license from the Federal Financial Supervisory Authority (BaFin). This move by DZ Bank reflects a growing trend among German banks to embrace cryptocurrencies despite the country’s strict regulatory regime. Other banks, including Deutsche WertpapierServiceBank (Dwpbank), Commerzbank, and DekaBank, are also seeking crypto custody licenses. The German banking industry is gradually finding ways to provide customers with access to digital assets and blockchain applications.

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Information	Details
Geography	Europe
Countries	🇩🇪
Sentiment	positive
Relevance Score	1
People	Holger Meffert
Companies	Deutsche WertpapierServiceBank (Dwpbank), DekaBank, DWS, Siemens, Commerzbank, DZ Bank AG
Currencies	Bitcoin
Securities	None