Commerzbank and Deutsche Börse subsidiary Crypto Finance join forces
Commerzbank and Crypto Finance, a subsidiary of Deutsche Börse, are now offering Commerzbank’s corporate clients in Germany secure and easy access to crypto assets. The joint service will initially focus on bitcoin and ether, targeting selected existing Commerzbank corporate clients in Germany.
Under this strategic partnership, Commerzbank will manage the custody of digital assets, while Crypto Finance will ensure their secure trading. This collaboration provides Commerzbank’s corporate clients with seamless and secure and access to crypto assets, without the need to forgo established and regulated structures and partners.
Combined Expertise for New Digital Markets
In November 2023, Commerzbank became the first German universal bank to obtain a crypto custody licence under §1 Abs. 1a Satz 1 Nr. 6 of the German Banking Act (KWG). This licence enables the Bank to offer a broad range of services in the field of digital assets, particularly crypto assets. The Bank can now provide a regulatory-compliant and reliable platform for crypto custody based on blockchain technology. Digitalisation is a high priority for Commerzbank in corporate banking, with the Bank recently recognised as a leader in digitalisation for corporate clients in Germany by the FINANCE Banken Survey 2024.
As a pioneer in digital assets, Crypto Finance has been enabling institutional clients to enter the crypto sector since 2017 through regulated and secure trading and custody services. Established as a FINMA-regulated provider of crypto asset solutions in Switzerland, Crypto Finance has recently expanded its presence in Germany by obtaining four licences from the Federal Financial Supervisory Authority (BaFin). This expansion allows the company to offer crypto services to all institutional clients in Germany. The partnership with Commerzbank further strengthens Crypto Finance’s presence in Germany for institutional clients. In effect, this collaboration enhances the role that the Crypto Finance Group plays in the European crypto ecosystem.
“Our offering in digital assets, enables our corporate clients to seize the opportunities presented by bitcoin and ether for the first time,” explained Gernot Kleckner, Head of Capital Markets in the Corporate Clients segment at Commerzbank, about the partnership. “We are a reliable and competent partner for our corporate clients in these future markets. Our joint solution represents the highest level of security in the trading and custody of crypto assets, which is also a standard we also share with the Deutsche Börse Group.”
“The partnership with Commerzbank is an important milestone for Crypto Finance as it enables us to offer more companies and institutions in Germany access to regulated crypto services,” said Stijn Vander Straeten, Chief Executive Officer of Crypto Finance. “With a solution tailored to Commerzbank, we are reinforcing our commitment to offering secure digital asset solutions across Europe. We are very much looking forward to the collaboration and to supporting the growing demand for institutional crypto services in Germany and the EU.”
