Germany’s DekaBank has introduced cryptocurrency trading and custody services for institutional clients. The $395 billion asset manager launched the services after securing regulatory approval from the Federal Financial Supervisory Authority (BaFin). The development marks a key step in the expansion of digital assets in the country’s financial sector.
DekaBank Secures Crypto Custody License from BaFin
DekaBank, one of Germany’s largest asset managers, obtained a crypto custody license from BaFin under the German Banking Act. The approval allows the institution to offer secure digital asset storage and trading to institutional investors. The bank operates under the supervision of BaFin and the European Central Bank (ECB), ensuring compliance with regulatory requirements.
Martin K. Müller, a representative of DekaBank, stated that the institution has the required experience, licenses, and infrastructure to support its clients.
He added that the services align with the bank’s commitment to security and compliance. The institution manages assets for Sparkassen-Finanzgruppe, Germany’s largest financial services group, giving it access to a broad network of institutional investors.
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