Commerzbank and Crypto Finance start crypto business

Commerzbank is now offering its corporate customers in Germany a new service for secure custody and trading crypto values. This is done in collaboration with Crypto Finance, a subsidiary of the German Stock Exchange, which takes over the trade of digital assets. In the first step, the offer focuses on the two leading cryptocurrencies Bitcoin and ether and is aimed at selected existing customers in the German corporate customer segment of Commerzbank.

DCorporate customers receive comprehensive access to crypto values, which is based on established and regulated structures. While Commerzbank takes over the custody of the crypto values, Crypto Finance ensures its smooth trade. This division of tasks is intended to offer customers a safe, simple and regulatory solution.

In November 2023, Commerzbank was the first German universal bank to receive crypto -custodian license in accordance with Section 1 (1) a Sentence 1 No. 6 of the Banking Act (KWG). This makes it possible for the bank to offer services related to digital assets. The custody is based on blockchain technology and offers customers secure access to this new wealth class. For Commerzbank, digitization in the corporate customer segment has high priority, as the company explains.

Crypto Finance is expanding presence in Germany

Crypto FinanceFounded in 2017, sees himself as a pioneer in the field of digital assets. The company, which is regulated by the Swiss financial market supervision FINMA, offers institutional customers regulated trade and custody services and has further expanded its presence in Germany by receiving four licenses of German BaFin. As part of the German Börse Group, Crypto Finance AG offers professional solutions for digital assets for institutional customers. This includes one of the first securities houses approved by FINMA that offers 24/7 brokerage services as well as custody, staking, infrastructure and tokenization solutions.

The partnership with Commerzbank strengthens the commitment of Crypto Finance in the German market and strengthens its position in the European crypto ecosystem. With this strategic cooperation, Commerzbank and Crypto Finance want to offer their corporate customers an innovative solution to the safe and regulated access to crypto values ​​and thus make it easier to start the growing market of digital assets.

“With our offer in the area of ​​digital assets, we open up our corporate customers the opportunity to use the opportunities that offer themselves with Bitcoin and Ether,” explained Gernot Kleckner, Capital Markets area in the Commerzbank segment, the partnership.

We are a reliable and competent partner for our corporate customers in these future markets. Our common solution stands for maximum security in the trade and in the custody of crypto values. A claim that we share with the German Studies group. ”

Gernot Kleckner, Capital Markets Commerzbank division

And Stijn Vander Straeten, Chief Executive Officer of the Crypto Finance, emphasizes that the partnership with Commerzbank is an important milestone for Crypto Finance that this enables more companies and institutions in Germany to find access to regulated cryptod services.

With the offer tailor -made for Commerzbank, we strengthen our commitment to offer secure solutions for digital assets across Europe. We look forward to the cooperation and to support the growing demand for institutional crypto services in Germany and the EU. ”

Stijn Vander Straeten, Chief Executive Officer der Crypto Finance

However, Commerzbank is not the first bank to take a move in this direction: In April, LBBW had already announced that it would offer its corporate customers to maintain and buy cryptos in the future. For this purpose, the Landesbank had agreed an agreement with the Bitpanda cryptocurrency platform.tw