tl;dr
Commerzbank has partnered with Deutsche Borse's Crypto Finance to offer Bitcoin and Ethereum trading services to its corporate clients in Germany. Commerzbank will handle the custody of assets, while Crypto Finance will provide trading services. This collaboration aims to provide secure access to cr...
Commerzbank has partnered with Deutsche Borse's Crypto Finance to offer Bitcoin and Ethereum trading services to its corporate clients in Germany. Commerzbank will handle the custody of assets, while Crypto Finance will provide trading services. This collaboration aims to provide secure access to crypto assets for Commerzbank's corporate clients and boost institutional crypto adoption.
Germany’s Commerzbank is set to launch Bitcoin and Ethereum trading to its customers. The German Bank will offer these crypto trading services through Crypto Finance, a subsidiary of Deutsche B�rse. This development greatly boosts Bitcoin and Ethereum adoption in the country, as the Bank boasts around 26,000 corporate client groups.
Commerzbank has partnered with Crypto Finance, a Deutsche B�rse stock exchange subsidiary, to offer Bitcoin and Ethereum exposure to its corporate clients. Crypto Finance announced that both firms will initially provide these services to selected existing Commerzbank corporate clients in Germany.
The “strategic partnership” will involve the German Bank managing the custody of these assets while Crypto Finance will ensure secure and seamless trading of these assets. Both firms noted that this collaboration aims to provide Commerzbank’s corporate clients “seamless and secure” access to crypto assets without needing to forgo established and regulated structures and partners.
Speaking on this development, Gernot Kleckner, a senior executive at Commerzbank, explained how this partnership will allow their corporate clients to seize the opportunities presented by Bitcoin and Ethereum for the first time. He assured that his firm and Crypto Finance would offer a joint solution that “represents the highest level of security in the trading and custody of crypto assets."
Crypto Finance CEO Stijn Vander Straeten stated that the partnership is an “important milestone” for them, enabling them to offer regulated crypto services to more German companies and institutions. The CEO remarked that this collaboration reinforces their commitment to providing secure digital asset solutions across Europe.
This partnership between Commerzbank and Crypto Finance will undoubtedly help to boost institutional crypto adoption. Interestingly, Binance CEO Richard Teng recently mentioned that institutional allocation to crypto so far is just the “tip of the iceberg,” suggesting that there will be an influx of institutional investors soon enough.