Dekabank, a German investment bank with $ 395 billion in assets, is said to be rolled out for Crypto Operating Services for certain customers.
According to a new report from Bloomberg, Dekabank is now providing the purchase, sale, custody and management of cryptocurrencies for its institutional customers.
Out Dekabank board member Martin Müller,
“We have the necessary experience, the necessary licenses and a tested and ready-made infrastructure to support savings banks and our other institutional customers.”
Dekabank has protected the correct permits to provide digital assets services, including a crypto guardianship permit under the Banking Act of the European Central Bank and the Federal Financial Supervision Authority (BAFIN).
Dekabank believes that there is a demand for institutional investors to buy crypto and diversify their portfolios.
Other savings banks in Germany already offer crypto services, including Landesbank Baden-Württemberg (LBBW), which collaborated with Crypto platform Bitpanda to enable its business customers to buy and sell digital assets.
Some savings banks are also planning to roll out crypto services for private customers.
The German cooperative banks Volksbank and Raiffeisenbank, led by DZ Bank, are planned to offer private customers crypto services at the middle of the year.
The effort is launched in collaboration with IT service provider Atruvia and the Stuttgart Stock Exchange.
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