🌎 Commerzbank Partners with Crypto Finance to Offer Bitcoin, Ethereum

Commerzbank has teamed up with Deutsche Börse’s Crypto Finance to offer access to Bitcoin and Ethereum for corporate clients in Germany.

German lender Commerzbank has partnered with Crypto Finance, a Deutsche Börse subsidiary, to provide corporate clients with crypto trading and custody services. This collaboration follows Commerzbank’s 2023 acquisition of a crypto custody license.

Commerzbank and Crypto Finance Partnership

Commerzbank will oversee the custody of crypto assets, while Crypto Finance will handle the trading services. Gernot Kleckner, Commerzbank’s divisional board member for capital markets, described the offering as a secure opportunity for corporate clients to capitalize on the benefits of Bitcoin and Ethereum for the first time.

Rising Demand for Regulated Crypto Services

Commerzbank’s move comes amid rising demand for regulated crypto services in Germany. Crypto Finance has expanded significantly after securing four licenses from Germany’s Federal Financial Supervisory Authority. This is not the first collaboration between Commerzbank and Deutsche Börse in the digital asset space.

Previous Collaborations

In 2021, Commerzbank and Deutsche Börse worked together on a blockchain-based marketplace for tokenizing assets like real estate and art, in partnership with fintech firm 360X. At the time, Deutsche Börse CEO Theodor Weimer noted that the platform would drive the “tokenization and digitization of assets that are not tradable today.”

Increased Activity in the German Banking Sector

The German banking sector has been increasingly active in the crypto space. DZ Bank, Germany’s second-largest lender, is also preparing to launch a crypto trading pilot for retail customers later this year. This will enable cooperative banks to offer direct digital asset trading to their customers.