DekaBank, one of Germany’s leading investment banks, has announced the launch of cryptocurrency trading and custody services for corporate clients after nearly two years of development and regulatory approval.
DekaBank's Crypto Services Launch
With total assets under management of 377 billion euros, DekaBank has completed the lengthy process of launching crypto services for corporate clients. This step received approval from the Federal Financial Supervisory Authority (BaFin) and is under the supervision of the European Central Bank (ECB). As noted by DekaBank board member Martin K. Müller, the bank has the necessary experience, licenses, and a tested infrastructure to support its clients.
Operational Base: Ripple Support
DekaBank's crypto services are built on the Ripple Custody platform, as confirmed by an announcement on Ripple’s official account. This highlights the growing demand for institutional-grade crypto custody solutions.
Growing Role of Digital Assets in Germany
DekaBank’s entry into the crypto market signals the increasing acceptance of digital assets in Germany’s traditional banking sector. Other financial institutions such as Landesbank Baden-Württemberg and cooperative banks led by DZ Bank are also actively expanding their crypto offerings.
The launch of DekaBank's crypto services demonstrates how traditional financial institutions are adapting to market changes and the growing demands of the digital asset sector, contributing to the further development of this industry in Germany.
