Commerzbank receives crypto custody license

Commerzbank receives crypto custody license

Commerzbank is the first German universal bank to receive a crypto custody license License allows safekeeping of crypto assets as a prerequisite for further services in the field of digital assets Bank seeks secure custody platform for digital assets Commerzbank was the first German universal bank to receive the crypto custody license in accordance with § 1 para. 1 a sentence 1 no. 6 of the Banking Act (KWG). The license allows the bank to build a wide range of services in the field of digital assets, especially crypto assets.

In the first step, the bank strives to provide its institutional clients with a secure, regulatory-compliant and reliable platform for the custody of crypto assets based on blockchain technology.

“By obtaining the license, we have reached an important milestone. It underlines our previous commitment to the use of the latest technologies and innovations and is the basis for being able to accompany our customers in the field of digital assets,” said Dr. Jörg Oliveri del Castillo-Schulz, Chief Operating Officer of Commerzbank.

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Press contact
Andreas Framke +49 69 9353-45673
Myra Schmitt +49 69 9353-45675

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About Commerzbank
Commerzbank is the leading bank for medium-sized companies and a strong partner of around 26,000 corporate customer associations and almost 11 million private and entrepreneurial customers in Germany. In two business areas – private and business customers as well as corporate customers – the bank offers a comprehensive portfolio of financial services. Commerzbank handles around 30 percent of German foreign trade and is internationally represented in corporate customer business in more than 40 countries. The bank focuses on German SMEs, large companies and institutional customers. In international business, Commerzbank accompanies customers with a business connection to Germany, Austria or Switzerland and companies from selected future industries. In the private and entrepreneurial customers segment, the bank with the Commerzbank and comdirect brands is at the side of its customers: online and mobile, in the consulting center and personally on site. The Polish subsidiary mBank S.A. is an innovative digital bank and serves around 5.7 million private and corporate customers, mainly in Poland as well as in the Czech Republic and Slovakia.

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