Major German bank launches bitcoin offer for customers

Major German bank launches bitcoin offer for customers

A major German bank has started offering Bitcoin-enabled solutions to its customers, showing the digital currency to at least 1.5 million investors with an account.

In a press announcement on Tuesday (31), DekaBank said it was looking for a reliable partner in the sector. So the process took time to go through all the compliance.

As of today, it can bring its customers to the cryptocurrency market, with a partner from Switzerland.

Giant German bank starts supporting Bitcoin, says future is through digital assets

In partnership with METACO, a Swiss cryptocurrency custody and management platform, DekaBank has inaugurated its offering with bitcoin.

In this way, it hopes to be able to bring the digital currency more securely to its customers and all of Germany. In addition, the large German bank expects to offer more products and services in the field of cryptocurrencies soon after announcing the collaboration.

According to Andreas Sack, owner of the digital asset custody product at DekaBank, the future of the world includes innovations with cryptocurrencies.

“Digital assets are a critical part of the future, a radical new way of representing assets, from currencies to real estate. Today, we are taking another important step in laying the groundwork to enable our institutional investors and millions of people in Germany to access this transformative opportunity. METACO is the right partner for DekaBank to create new secure, compliant and future-proof services.”

According to the bank, Germany offers an innovative environment for the cryptocurrency market, although it has strict regulation. Service providers are therefore obliged to apply for licenses via the Federal Financial Supervisory Authority.

Since METACO’s technology solutions are already in use by regulatory bodies, the partnership became viable. The platform’s founder and CEO, Adrien Treccani, stated that the new partnership with DekaBank proves that its products will continue to be available to regulated companies looking to enter the cryptocurrency market.

Who is DekaBank?

DekaBank is the securities services provider of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe).

With its subsidiaries, it forms the Deka Group. With total client assets of EUR 363 billion (as of 30/09/2022) and more than 5.2 million securities accounts, DekaBank is one of the largest securities service providers and real estate asset managers in Germany.

DekaBank is a wholly owned subsidiary of the German savings banks Sparkasse and an integral part of the Sparkassen-Finanzgruppe.

Source: Live Coins