Commerzbank now offers cryptocurrency trading and custody to its corporate clients through a partnership with Deutsche Börse subsidiary Crypto Finance. The bank is responsible for digital asset custody, with Crypto Finance providing trading services. Initially the offering includes bitcoin and ether.
The bank landed a crypto custody license from BaFin in late 2023. It has another blockchain partnership with the Deutsche Börse, the 360x joint venture that targets the tokenization of real estate, art and music. For its part, Crypto Finance is a Swiss company, so it was initially regulated by Switzerland’s FINMA. In February of this year its German subsidiary was awarded four licenses by BaFin.
Hence, together the two firms provide a regulatory compliant solution.
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