German banking giant launches Bitcoin, Ether and custody trading services

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Commerzbank, a major German bank, has partnered with Crypto Finance, a subsidiary of Deutsche Börse, to offer Bitcoin and Ether custody and trading services to its corporate clients, the bank announced today.

Initially focusing on the two leading crypto assets, the new offerings are aimed at customers looking for safe and easy access to digital assets. As part of the collaboration, Commerzbank will manage the custody of digital assets, while Crypto Finance will ensure their secure trading.

Customers will benefit from the established and regulated structures of the two entities. Both Commerzbank and Crypto Finance have obtained relevant licenses to offer crypto services in Germany.

In early February, Crypto Finance received four licenses from BaFin for digital asset trading and custody services, a move that ensures its operations comply with EU MiCA regulations. In March, Deutsche Börse launched a regulated spot platform for crypto assets, increasing market transparency and security for institutional clients in Europe.

Commerzbank is the first full-service bank to receive the crypto custody license in Germany. The license allows the bank to expand its digital asset services.

Discussing the partnership with Crypto Finance, Gernot Kleckner, Divisional Board Member Capital Markets in the Corporate Clients segment at Commerzbank, said it enables the bank’s clients to access and trade Bitcoin and Ether for the first time.

“Our digital asset offering allows our corporate customers to take advantage of the opportunities offered by bitcoin and ether for the first time,” Kleckner said. “Our joint solution represents the highest level of security in crypto-asset trading and custody, which is also a standard we also share with Deutsche Börse Group.”

According to Stijn Vander Straeten, Chief Executive Officer of Crypto Finance, the partnership will help the company expand its reach to more companies and institutions in Germany, giving them access to regulated crypto services.

“With a tailored solution for Commerzbank, we reinforce our commitment to provide secure digital asset solutions across Europe,” said Straeten. “We look forward to working together and supporting the growing demand for institutional crypto services in Germany and the EU.”

The move comes at a time when several German banks, such as LBBW and DZ Bank, are also stepping up their efforts to offer crypto services. LBBW, in partnership with cryptocurrency exchange Bitpanda, is set to launch crypto custody services in the second half of this year.

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