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Top German Bank Granted Crypto Custody License by Regulators

22.12.2024 18:00 1 min. read Alexander Zdravkov
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Top German Bank Granted Crypto Custody License by Regulators

DekaBank has entered the spotlight by obtaining a coveted crypto custody license from Germany’s BaFin and the European Central Bank.

This move, under the Banking Act, makes it one of the few traditional banks, alongside Commerzbank, to officially step into the digital asset space, setting itself apart from crypto-native firms.

The bank has been steadily building its crypto credentials. Earlier this year, it received approval to operate as a crypto securities registrar, enabling direct issuance of blockchain-based securities without intermediaries.

DekaBank is also a founding member of the blockchain platform SWIAT, which has seen notable use cases, such as Siemens issuing a €300 million digital bond.

Germany’s regulatory framework, though slow-moving, has proven to be a stabilizing force in the European crypto landscape.

The recent passage of the Supervision of Crypto Markets Act (KMAG) aligns national policies with the EU’s MiCA standards, paving the way for institutional growth in the sector.

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.

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