Crypto-Follow logo Crypto-Follow logo
Seeking Alpha 2022-04-21 18:51:42

German lender Commerzbank applies for cryptocurrency license

Germany's Commerzbank (OTCPK:CRZBF) (OTCPK:CRZBY), one of the largest lenders in the country, has applied for a cryptocurrency custody license during the first quarter, a spokesperson for the lender told local newspaper Börsen-Zeitung on April 14. The move comes as the lender aims to offer exchange services as well as custody and protection of digital assets. "We are pursuing our own digital asset strategy and are also planning our own offerings for our customers in the coming years," said Bernd Reh, senior spokesman for Commerzbank. "We have applied for a license from the Bafin for the safekeeping of crypto assets. The future offer is initially aimed at institutional customers,” he added. Meanwhile, BaFin, Germany's Federal Financial Supervisory Authority, has approved just four out of 25 applications to become a crypto custodian. Towards the end of March, Australia's Commonwealth Bank (OTCPK:CBAUF) (OTCPK:CMWAY) said crypto activity on its app got a big boost.

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer