Commerzbank launches cryptocurrency services for corporate clients

Commerzbank launches cryptocurrency services for corporate clients

The second largest bank in Germany, Commerzbank, has decided to take an important step in the field of cryptocurrencies. It has announced that it will now offer its corporate clients the opportunity to trade Bitcoin (BTC) and Ethereum (ETH). The move underlines the growing interest of traditional banks in digitalisation and cryptocurrency-related services.

According to Coindesk, the bank is launching a new service that includes not only transactions with the two major cryptocurrencies, but also the provision of custody services. Commerzbank is partnering with Crypto Finance, a subsidiary of Deutsche Boerse, allowing it to offer its German corporate clients secure trading of digital assets.

"Our digital asset offering gives our institutional clients the opportunity to take advantage of the opportunities that bitcoin and ether offer for the first time. Our joint solution guarantees a high level of security when trading and storing crypto assets, a standard we also adhere to in cooperation with Deutsche Boerse," said Gernot Kleckner, Head of Capital Markets for Institutional Clients at Commerzbank.

In November 2023, the bank announced that it had obtained a license to hold cryptocurrencies in Germany, becoming the first full-service bank to make the move. In this way, Commerzbank is trying to respond to the growing demand for cryptocurrency services and secure its place in a market that is rapidly evolving.

With this new direction, Commerzbank is becoming an important player in the cryptocurrency field, not only in the German market but also in Europe. It is evident that traditional financial institutions are increasingly adapting to modern technologies and trends, which could have far-reaching implications for the entire financial sector.