The service will be offered to existing Commerzbank corporate clients in Germany, and will start with bitcoin and ether trading.
Commerzbank (CBK) has partnered with Crypto Finance, a subsidiary of Germany's largest stock exchange operator, to offer bitcoin and ether trading services to the lender's corporate clients in Germany, the companies announced on Thursday.
The move comes just two weeks after Crypto Finance signed a similar deal with Zürcher Kantonalbank (ZKB) in Switzerland to offer trading services to the bank's clients.
Commerzbank, the country's second-largest bank by number of branches, will provide custody services, the companies said in a press release. 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.
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