German lender Commerzbank has been granted a crypto custody license, which allows the bank “to build up a broad range of digital asset services with particular emphasis on crypto assets.”
Founded in Hamburg in 1870, Commerzbank said it is the first German full-service bank to be granted the license pursuant to Article 1 Section 1a Sentence 1 No 6 German Banking Act (KWG), a group that regulates the credit market.
“This highlights our ongoing commitment to applying the latest technologies and innovations, and it forms the foundation for supporting our customers in the areas of digital assets,” said Jörg Oliveri del Castillo-Schulz, Chief Operating Officer of Commerzbank.
Read Also: BitGo Scores Crypto Custody License From Germany On Heels Of $100M Funding Round
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