Top German Bank to Launch Crypto Services with Boerse Stuttgart Digital

DZ Bank, Germany's second-largest financial institution, has teamed up with Boerse Stuttgart Digital to offer cryptocurrency trading and custody services across its network of cooperative banks.

This partnership will allow around 700 cooperative banks under DZ Bank’s umbrella to provide their retail clients with access to digital assets such as Bitcoin and Ethereum.

The new service is set to roll out in phases, beginning later this year. Initially, a select group of retail clients will test the crypto trading service to ensure a smooth launch. Full implementation across the network is expected to follow after the initial testing phase.

Boerse Stuttgart Digital will provide the necessary regulatory and technical support for DZ Bank’s crypto services. Matthias Voelkel, CEO of Boerse Stuttgart Group, emphasized that their crypto division is focused on delivering infrastructure tailored for retail customers.

In related developments, Germany’s Landesbank Baden-Württemberg announced it will offer crypto custody solutions starting in the second half of 2024, in collaboration with the Austrian exchange Bitpanda.