German banking giant rolls out Bitcoin, Ether trading and custody services

Key Takeaways

• Commerzbank is offering Bitcoin and Ether trading services to German corporate clients.
• The bank ensures high security for crypto trading and custody with a Deutsche Boerse partnership.

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

Initially focusing on the two leading crypto assets, the new offerings target clients who are looking for secure 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.

Clients 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.

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

Commerzbank is the first full-service bank to be granted the Crypto Custody License in Germany. The license allows the bank to broaden 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 offering in digital assets enables our corporate clients to seize the opportunities presented by bitcoin and ether for the first time,” Kleckner said. “Our joint solution represents the highest level of security in the trading and custody of crypto assets, which is also a standard we also share with the Deutsche Börse Group.”

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

“With a solution tailored to Commerzbank, we are reinforcing our commitment to offering secure digital asset solutions across Europe,” Straeten stated. “We are very much looking forward to the collaboration and to supporting the growing demand for institutional crypto services in Germany and the EU.”

The move comes at a time when several German banks, like LBBW and DZ Bank, are also ramping up efforts to offer crypto services. LBBW, in partnership with crypto exchange Bitpanda, is set to roll out crypto custody services in the second half of this year.

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