DekaBank, a German investment bank managing 377 billion euros in assets, has launched cryptocurrency trading and custody services for institutional clients. After nearly two years of development, the Frankfurt-based bank received regulatory approval for a crypto custody license from BaFin, operating under ECB supervision. DekaBank’s board member, Martin K. Müller, emphasized their readiness to support savings banks and institutional clients with the necessary experience, licenses, and infrastructure. The bank, part of Germany’s largest financial services group, Sparkassen-Finanzgruppe, focuses on security and compliance in its marketing efforts. Other German financial institutions, like LBBW and DZ Bank, are also venturing into crypto, with plans to offer services to corporate and private clients respectively.
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