Commerzbank, Germany's second largest bank after DeutscheBank, is taking decisive steps towards cryptocurrencies.
According to Coindesk, Commerzbank is launching Bitcoin (BTC) and Ethereum (ETH) transactions for its corporate clients.
Commerzbank, which will provide custody services, has partnered with Crypto Finance, a subsidiary of Deutsche Boerse.
With this partnership, Commerzbank will enable trading of digital assets for its German corporate clients.
Stating that it will offer custody services to its corporate clients, Commerzbank said that it will be offered to customers located in Germany together with its Deutsche Boerse subsidiary and will initially focus on trading with the two largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH).
“Our offering in digital assets enables our institutional clients to seize the opportunities offered by bitcoin and ether for the first time. Our joint solution represents the highest level of security in trading and storing crypto assets, a standard that we also share with the Deutsche Boerse Group,” said Gernot Kleckner, head of capital markets for institutional clients at Commerzbank.
Commerzbank announced in November 2023 that it had received a license to hold cryptocurrency in Germany, becoming the first full-service bank in Germany to do so.
*This is not investment advice.