DekaBank has launched cryptocurrency trading, custody, and management services exclusively for institutional clients. Retail investors are currently excluded.
DekaBank's New Services
DekaBank has received a crypto custody license from the European Central Bank and BaFin, positioning itself as a secure option for institutional clients. DekaBank board member Martin K. Müller highlighted the readiness of the infrastructure and the necessary licenses.
Retail Investor Stance
The Sparkassen group, to which DekaBank belongs, is still deliberating its approach to offering crypto services to private clients. Retail investors are excluded from the current services.
Crypto Plans of Other Banks
Other banks within the Sparkassen group are also entering the institutional crypto market. For instance, LBBW has announced a partnership with Bitpanda to provide a platform for cryptocurrency trading for corporate clients. In contrast, Germany's cooperative banks plan to introduce crypto services for all retail customers by summer.
DekaBank and other banks in the Sparkassen group are focusing on institutional clients for crypto trading, leaving retail investors aside. However, enhanced crypto services for private customers may be on the horizon.
