Commerzbank AG has obtained a crypto custody license in Germany, the company announced Wednesday.
The license will let the Frankfurt-headquartered global bank offer a broad range of digital asset services, “with particular emphasis on crypto assets,” the announcement said.
Winning a crypto license from Germany’s cautious financial markets regulator BaFin has proven an uphill battle for companies looking to offer related services. According to Commerzbank, it’s the first full-service bank in Germany to obtain the license and hopes to set up a secure custody platform for digital assets.
“Now that we have been granted the license, we have achieved an important milestone. This highlights