Dekabank, a German investment bank with 377 billion euros ($ 395 billion) of assets under management, presented negotiation services for cryptocurrency and childcare customers after almost two years of development .
The decision of the company based in Frankfurt follows the regulatory approval of a police custody license from the Federal Financial Supervisory Authority (Bafin), while operating under the supervision of the European Central Bank (ECB), reported Bloomberg.
“We have the necessary experience, the required licenses and a loan infrastructure tested to support savings banks and our institutional customers,” said Martin K. Müller, member of the board of directors.
Dekabank, asset manager of the country’s largest financial services group, Sparkassen-Finanzgruppe, markets his new offer by emphasizing security and regulatory compliance, according to the report.
Other cryptocurrency offers in the country’s savings banks have already been introduced. Financial institutions such as Landesbank Baden-Würtemberg (LBBW) have teamed up with cryptographic platforms like Bitpanda to allow companies to buy and sell cryptocurrencies.
Meanwhile, German cooperative banks, led by DZ Bank, plan to deploy a cryptocurrency offer for private customers by the middle of the year. The initiative is launched alongside the ATRVIA IT service provider and the Stuttgart Stock Exchange.
Dekabank had not responded to a request for comments in publication times.
