The German financial institution Commerzbank has been granted a crypto custody license by native regulators, based on an announcement launched by the lender on Nov. 15.
Commerzbank says it’s the first “full-service” German financial institution to be granted this license within the nation below the authorized framework of the German Banking Act (KWG). This permits it to supply custody of crypto belongings and can allow it to supply “additional digital asset companies.”
Dr. Jörg Oliveri del Castillo-Schulz, the chief working officer of Commerzbank, stated that buying the license is an “essential milestone.”
“This highlights our ongoing dedication to making use of the newest applied sciences and improvements, and it types the inspiration for supporting our clients within the areas of digital belongings.”
The financial institution says its first step now could be to ascertain a platform that’s each “safe and dependable” and totally complies with native rules whereas supporting its institutional purchasers by crypto custody companies through blockchain.
It is a growing story, and additional info can be added because it turns into out there.
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