Commerzbank will provide custody services and the Deutsche Boerse subsidiary will enable trading of digital assets for German corporate clients.
The service will focus on the trading of bitcoin and ether, the companies said.
Crypto Finance, a subsidiary of Germany’s largest stock exchange operator, signed a deal with Commerzbank (CBK) to offer trading services to the lender’s corporate clients just two weeks after reaching a similar agreement with Zürcher Kantonalbank (ZKB) in Switzerland
Commerzbank, the country’s second-largest bank by number of branches, will provide custody services, the companies said in a press release on Thursday. The trading service offered by the Deutsche Boerse unit will be available to clients based in Germany and initially focus on trading in the two largest cryptocurrencies, bitcoin (BTC) and ether (ETH).
“Our offering in digital assets, enables our corporate clients to seize the opportunities presented by bitcoin and ether for for the first time,” said Gernot Kleckner, head of capital markets for corporate clients at Commerzbank. “Our joint solution represents the highest level of security in the trading and custody of crypto assets, which is also a standard we also share with the Deutsche Boerse Group.”
Commerzbank obtained a crypto custody license in Germany in November 2023, allowing the financial services firm to offer a wide range of services related to digital assets.