Frankfurt-based DekaBank has announced the launch of crypto trading and custody services for institutional clients, becoming part of the global crypto trend.
Key Steps to Launching Crypto Services
DekaBank, one of Germany's leading investment banks, has begun offering crypto trading and custody services tailored for institutional clients, already managing assets worth approximately €377 billion. In December 2024, the bank secured a crypto custody license from Germany’s Federal Financial Supervisory Authority (BaFin) and the European Central Bank (ECB) under the German Banking Act. This licensing authorizes the bank to offer comprehensive crypto custody services within a regulated framework.
Services Exclusively for Institutional Investors
DekaBank's crypto trading and custody offerings are aimed exclusively at institutional clients. According to Bloomberg, the bank chose this client segment as it possesses the necessary know-how, resources, and infrastructure to manage risks from crypto investments.
Other Crypto Space Initiatives
Other active players in the market include Landesbank Baden-Württemberg, which is offering its corporate clients a platform for crypto custody and trading in collaboration with Bitpanda. Cooperative banks, led by DZ Bank, are developing their crypto services and plan to launch officially mid-year.
DekaBank's launch of crypto trading and custody services for institutional clients marks an important step towards integrating cryptocurrencies into Germany's traditional financial markets.
