German universal bank Commerzbank has applied for a digital asset custody license according to a Finbold report. The application was submitted to Germany’s financial regulator BaFin in the first quarter of 2022.
The license could allow Commerzbank to provide custodial services for cryptocurrency and/or tokenized securities and other digital assets. The bank confirmed it is both.
“In the field of ‘digital assets’, Commerzbank wants to help shape emerging digital ecosystems, especially with regard to custody and trading in non-physical assets. To this end, we entered into a cooperation with Deutsche Börse and Fin-Tech 360x in spring 2021,” said a spokesperson.
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