The German financial institution Commerzbank has been granted a crypto custody license by native regulators, in keeping with 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 beneath 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 providers.”
Dr. Jörg Oliveri del Castillo-Schulz, the chief working officer of Commerzbank, stated that buying the license is an “vital milestone.”
“This highlights our ongoing dedication to making use of the newest applied sciences and improvements, and it types the inspiration for supporting our prospects 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 absolutely complies with native laws whereas supporting its institutional purchasers by crypto custody providers through blockchain.
It is a creating story, and additional data can be added because it turns into out there.
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