Germany's DekaBank has been granted a crypto custody license for banks by the country's regulator BaFin and the European Central Bank (ECB). Commerzbank was the first German bank to receive a license last year, while other major banks have not yet been granted a license, including DZ Bank.
BaFin has issued an additional 11 cryptocurrency custody licenses, mainly for cryptocurrency companies. One of them is the digital asset custody subsidiary of Hauck Aufhäuser Lampe Privatbank.
The difference between DekaBank and Commerzbank and cryptocurrency companies is that the former is licensed under the Banking Act (KWG). This is the second new license DekaBank has received this year. In July, the company received a crypto securities registry license in Germany to issue DLT-based digital securities. These crypto securities do not require a central securities depository (CSD) to issue.
Germany's DekaBank has been granted cryptocurrency custody licenses by BaFin and the European Central Bank
2024-12-22 06:41:27
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