Germany’s DekaBank has officially launched cryptocurrency trading and custody services for institutional investors after securing a crypto custody license from the Federal Financial Supervisory Authority (BaFin).
As one of Germany’s largest asset managers, overseeing approximately $395 billion in assets, DekaBank's entry into digital asset services signals significant progress in integrating cryptocurrencies into the country’s regulated financial sector.
The BaFin license was obtained under the German Banking Act, granting DekaBank the authority to securely store and facilitate digital asset transactions for institutional clients. The institution operates under the regulatory framework of both BaFin and the European Central Bank (ECB), ensuring compliance with stringent financial regulations. DekaBank’s move reflects growing institutional interest in digital assets, particularly among Germany’s banking and investment community.
According to Martin K. Müller, a representative from DekaBank, the institution has developed a strong infrastructure and possesses the necessary licenses to provide secure and compliant crypto services. He emphasized that the bank’s expertise in traditional finance, combined with regulatory approval, ensures a secure environment for institutional investors.
DekaBank’s asset management services are closely linked to Sparkassen-Finanzgruppe, Germany’s largest financial services group. This connection provides the bank with a vast institutional client base, further facilitating the expansion of regulated crypto offerings within the German financial landscape.
The introduction of DekaBank’s crypto services comes amid increasing regulatory clarity and institutional adoption of digital assets across Europe. The bank’s move reinforces the trend of major financial institutions integrating blockchain-based solutions into their offerings.
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