Commerzbank Expands Into Crypto With Bitcoin and Ether Services for Corporate Clients

• Commerzbank’s crypto custody license allows it to offer regulated services, focusing on Bitcoin and Ether for corporate clients.
• The partnership between Commerzbank and Crypto Finance enables secure digital asset trading and custody for institutional clients.
• Crypto Finance’s expansion into Germany with BaFin licenses strengthens its role in Europe’s institutional crypto services.

Commerzbank, Germany’s second-largest bank by branches, is expanding its services. The bank has partnered with Crypto Finance, a subsidiary of Deutsche Börse, to offer corporate clients secure access to digital assets. This move follows Commerzbank’s acquisition of a crypto custody license in November 2023, a shift toward integrating digital assets into its corporate banking services.

Strategic Partnership to Facilitate Secure Access

The partnership will allow Commerzbank to provide secure and regulated crypto services, focusing on the two largest cryptocurrencies, Bitcoin (BTC) and Ether (ETH). Crypto Finance will manage the trading services, while Commerzbank will oversee the custody of digital assets. Together, they offer a streamlined solution for corporate clients, enabling them to explore new opportunities in digital assets without sacrificing regulatory compliance or security.

Crypto Custody License Powers Expansion

Notably, the crypto custody license obtained by Commerzbank in 2023 was pivotal for the bank. The license, issued under the German Banking Act, allows the financial institution to offer a wide range of services related to digital assets. 

With this regulatory approval, Commerzbank becomes the first universal bank in Germany to venture into the custody of crypto assets, positioning itself at the forefront of digital transformation within the corporate banking sector.

Crypto Finance Strengthens Its Presence in Germany

On the other hand, Crypto Finance, already a key player in the European crypto ecosystem, continues to strengthen its foothold in Germany. Having recently obtained four licenses from the Federal Financial Supervisory Authority (BaFin), the company is now able to offer its services to all institutional clients in Germany. This partnership with Commerzbank further cements Crypto Finance’s role in providing secure crypto trading and custody solutions to corporate clients across the country.

This collaboration aims to meet the growing demand for institutional crypto services in Germany, while ensuring the highest level of security and regulatory compliance for corporate clients exploring digital assets.