Commerzbank Partners With Deutsche Börse’s Crypto Finance to Expand Crypto Services

CN
4 hours ago

Financial giant Commerzbank announced on Thursday its collaboration with Deutsche Börse subsidiary Crypto Finance to provide digital asset services to its corporate clients. The new offering focuses on bitcoin and ether, offering secure custody and trading. Commerzbank is one of Germany’s largest banks, with significant operations in corporate banking, retail banking, and investment banking. As of 2024, it has about 48,000 employees and serves approximately 11 million private customers and over 70,000 corporate clients worldwide.

The announcement states:

The joint service will initially focus on bitcoin and ether, targeting selected existing Commerzbank corporate clients in Germany.

“Under this strategic partnership, Commerzbank will manage the custody of digital assets, while Crypto Finance will ensure their secure trading. This collaboration provides Commerzbank’s corporate clients with seamless and secure access to crypto assets, without the need to forgo established and regulated structures and partners,” the announcement further details.

Commerzbank obtained a crypto custody license in 2023, expanding its ability to offer regulated digital asset services, while Crypto Finance strengthens its role in Europe’s crypto ecosystem through its partnership.

Gernot Kleckner, Commerzbank’s Divisional Board Member Capital Markets, highlighted the importance of the collaboration:

Our offering in digital assets enables our corporate clients to seize the opportunities presented by bitcoin and ether for the first time.

This strategic move provides clients with security and expertise. Crypto Finance CEO Stijn Vander Straeten emphasized the growing demand for institutional crypto services, stating that this partnership enables Crypto Finance to further expand its regulated offerings across Germany and Europe.

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