Commerzbank and DZ Bank, two of the largest German banks, are launching digital asset trading.
Commerzbank and DZ Bank, two of the leading German banks, have announced the launch of Bitcoin and other cryptocurrency trading services.
Commerzbank, the second-largest banking institution in Germany by number of branches, has signed an agreement with Crypto Finance, a subsidiary of Deutsche Boerse, one of the major global financial institutions. The agreement aims to provide cryptocurrency trading services to corporate clients.
A representative of Commerzbank stated:
“Our offering in digital assets enables our corporate clients to seize the opportunities presented by Bitcoin and Ether for the first time.”
At the same time, DZ Bank, one of the largest financial services providers in the country, will allow its 700 cooperative banks to offer digital asset trading services. This will be made possible through a collaboration with the Stuttgart Stock Exchange, the second-largest stock exchange in Germany.
The head of trading at DZ Bank explained that professional investors are quickly allocating capital to Bitcoin and other cryptocurrencies.
The move toward digital assets by German banks follows that of the Zurich Cantonal Bank, which recently introduced cryptocurrency services for the retail market in Switzerland.
