DekaBank, managing $395 billion in assets, has started offering cryptocurrency trading and custody services for institutional clients.
Launch of New Crypto Services
DekaBank has launched cryptocurrency trading and custody services for institutional clients after nearly two years of development, focusing on security and regulatory compliance.
Regulatory Approval and Infrastructure
The bank received a crypto custody license from the Federal Financial Supervisory Authority (BaFin) and operates under the oversight of the European Central Bank.
Competition in the Crypto Services Market
Other financial institutions in Germany have also launched cryptocurrency services. Landesbank Baden-Württemberg partners with Bitpanda for cryptocurrency operations, while cooperative banks led by DZ Bank plan to offer crypto services to their clients by mid-year.
DekaBank strengthens its position in the cryptocurrency services market by offering reliable and regulated solutions for institutional clients, competing effectively with other major players.
