Commerzbank granted crypto custody license in Germany - New Style Motorsport

The German bank Commerzbank is the first full-service bank in the country to receive a crypto custody license from local regulators.

The German bank Commerzbank has been granted a crypto custody license by local regulators,

according to a Nov. 15 announcement by the lender.

Commerzbank says it is the first “full-service” German bank to be granted this license in the country

under the legal framework of the German Banking Act. This allows it to offer custody of crypto assets

and will enable it to offer “further digital asset services.”

Jörg Oliveri del Castillo-Schulz, chief operating officer of Commerzbank,

said that acquiring the license is an “important milestone.”

“This highlights our ongoing commitment to applying the latest technologies and innovations,

and it forms the foundation for supporting our customers in the areas of digital assets.”

The bank said its first step now is to establish a platform that is both “secure and reliable” and fully

complies with local regulations while supporting its institutional clients through crypto custody services via blockchain.

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