DZ Bank, the third-largest bank in Germany by asset size, has taken a significant step towards integrating into the cryptocurrency ecosystem. According to the news from Wu Blockchain, the bank has launched a blockchain-based digital custody platform specifically designed for corporate clients, managing a massive asset portfolio of 300 billion Euros.
This new service allows for the secure storage and management of crypto assets. In addition to the custody service it provides, the bank also aims to offer the opportunity to purchase various cryptocurrencies, including Bitcoin, to corporate investors and private clients.
In June 2023, DZ Bank had applied to the German Federal Financial Supervisory Authority for a cryptocurrency custody license. The acquisition of the license will enable the bank to offer its crypto asset custody services in an official and regulated framework.