DekaBank was the first organization to issue a crypto security and the first bank to be awarded a provisional crypto registrar license. Last week German regulator BaFin awarded DekaBank a full license.
In 2021 Germany’s Electronic Securities Act (eWpG) came into force, allowing ‘crypto’ securities to be issued on a blockchain without a central securities depository (CSD). Despite the use of the term ‘crypto’, these are not cryptocurrencies. They are securities including stocks and bonds. Instead of a CSD, crypto securities require a crypto registrar, an organization that has a narrower role compared to a CSD.
DekaBank is the securities house that services Germany’s savings banks.
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