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DekaBank has initiated services for the buying, selling, and custody of cryptocurrencies aimed at institutional clients. The issue of engaging with retail customers remains unresolved.
The German financial institution DekaBank has officially commenced offering services for acquiring, trading, storing, and managing cryptocurrencies for institutional clients, as reported by Bloomberg, referencing the bank’s press release.
DekaBank ranks among Germany’s largest financial institutions, playing a significant role in managing funds and investments for over 370 savings banks (Sparkassen), which are members of the German Savings Banks Association (DSGV). The bank oversees assets exceeding €370 billion.
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Martin K. Müller, a Board Member at DekaBank, stated that the institution possesses all necessary resources to assist institutional clients in navigating digital assets, including expertise, infrastructure, and regulatory authorization. Importantly, DekaBank holds licenses from both the European Central Bank and Germany’s Federal Financial Supervisory Authority (BaFin).
According to representatives from DekaBank, institutional investors have the knowledge, resources, and infrastructure required for effective risk management in cryptocurrency investments. Ultimately, digital assets may serve as a diversification tool and a strategic investment option for corporate clients. However, the matter of providing services to retail investors remains unresolved within the Sparkassen group, of which DekaBank is a member.
Previously, other financial institutions within the Sparkassen group have also begun offering crypto-related services. For instance, Landesbank Baden-Württemberg (LBBW) announced a collaboration with the cryptocurrency exchange Bitpanda to provide corporate clients with a trading and custody platform for digital assets such as Bitcoin.
The message DekaBank Enters Institutional Crypto Services Market first appeared on CoinsPaid Media.
