Germany’s Commerzbank (CBK) applied for a crypto license earlier this year, a spokesperson for the bank said. This makes it the first major bank in Germany to move towards crypto adoption (exchange and crypto-asset services), according to coindesk.com.
“To this end, we entered into a cooperation with Deutsche Börse and Fin-Tech 330x in spring 2021. In addition, we are pursuing our own digital asset strategy and are also planning our own offerings for our customers in the coming years. We have applied for a license from the Bafin for the safekeeping of crypto assets. The future offer is initially aimed at institutional customers,” said Bernd Reh, senior spokesman, Commerzbank.
Local media outlet Börsen-Zeitung first reported that a spokesperson from the bank confirmed on April 14 that it “applied for the crypto custody license in the first quarter of 2022.”