A new cryptocurrency move came from DZ Bank, Germany's third largest bank.
In his post, Wu Blockchain said that DZ Bank, which has 300 billion Euros of assets under management, recently launched a blockchain-based digital storage platform for its corporate customers.
This platform, launched by DZ Bank, allows corporate customers to invest in Bitcoin (BTC) and other cryptocurrencies.
DZ Bank, Germany’s third-largest bank with assets under management 300 billion euros, recently announced the launch of a digital custody platform based on blockchain for institutional customers, allowing institutional customers to invest in cryptocurrencies. DZ Bank is also…
— Wu Blockchain (@WuBlockchain) November 6, 2023
DZ BANK Securities Services and Digital Custody Manager Dr. Holger Meffert said in his statement:
“DZ BANK has launched a new platform for the processing and storage of digital financial instruments. This makes the leading cooperative institution one of the first credit institutions to launch such an offering based on blockchain technology for corporate customers.
We assume that a significant portion of capital market transactions will be processed through distributed ledger technology (DLT)-based infrastructures in the next decade.
In the medium term, we see DLT as a complementary technology to the infrastructures established in existing capital market processes.
At this point, while DZ Bank is launching the new platform to keep up with the developments, it is also developing its services for direct investment in cryptocurrencies for individual customers.”
*This is not investment advice.