Rally

Bank AI

Polkadot

Read

<ol> 
 <li>DZ Bank has launched its crypto custody service for institutional investors.</li> 
 <li>Sources close to DZ Bank say that it is also planning to launch crypto investment services soon.</li> 
 <li>The news coincides with rumors that the SEC approving spot BTC ETFs is drawing nigh.</li> 
</ol> 
<p>DZ Bank, Germany’s third-largest banking institution with at least 300 billion euros ($322.6 billion), has premiered its crypto custody service. The service is open initially to the bank’s institutional clients.</p> 
<p>The announcement, originally written in German, said that the bank had already hired dozens of employees dedicated to this service alone. In addition, the bank assures that their operations will be totally compliant with appropriate regulations.</p> 
<p>In another <a href="https://www.crowdfundinsider.com/2023/11/215306-digital-assets-dz-bank-launches-custody-platform-for-crypto-assets/">press release</a>, DZ Bank’s head of securities and digital custody Holger Meffert said:</p> 
<p>“We assume that within the next ten years a significant proportion of capital market business will be processed via distributed ledger technology (DLT)-based infrastructures. In the medium term, we see DLT as a complementary technology to the established infrastructures in the existing capital market processes.”</p> 
<p>In essence, Meffert is suggesting that DZ Bank may continue exploring products and services that involve blockchains and cryptocurrencies. What is more, the bank hinted at possibly offering crypto investment offerings to institutional investors in the future. However, the bank did not share any details as to which cryptocurrencies it is looking to offer.</p> 
<p>The news was a welcome tidings to crypto supporters, especially those who know how big DZ Bank is in Germany.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Wow, DZ Bank stepping up their crypto game! Exciting to see traditional institutions embracing the blockchain revolution. Institutional and individual customers both benefiting from digital custody platforms? The future is here! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4aa.png" alt="💪" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f512.png" alt="🔒" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/CryptoNews?src=hash&amp;ref_src=twsrc%5Etfw">#CryptoNews</a></p>— x100-Signal 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@x100_boss) <a href="https://twitter.com/x100_boss/status/1721455392633544815?ref_src=twsrc%5Etfw">November 6, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The timing coincides with rumors of the US Securities and Exchange Commission’s (SEC) stamp of approval for spot Bitcoin (BTC) exchange-traded funds (ETF) in the US. Other countries have already been ahead in this regard, as the total amount of assets invested in spot BTC ETFs have totaled $4.16 billion, according to <a href="https://www.reuters.com/business/finance/global-assets-spot-bitcoin-etfs-hit-416-billion-coingecko-2023-11-03/">Reuters</a>.</p> 
<h4 class="wp-block-heading" id="h-read-also">Read Also :</h4> 
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/germanys-top-savings-bank-to-offer-bitcoin-to-clients/">Germany’s Top Savings Bank to Offer Bitcoin to Clients</a></li>
 <li><a href="https://cryptonewsland.com/sp-500-bounced-off-support-crypto-rally-underway/">S&amp;P 500 Bounced Off Support, Crypto Rally Underway?</a></li>
 <li><a href="https://cryptonewsland.com/contrasting-bitcoin-taxation-luxembourgs-48-78-vs-germanys-0/">Contrasting Bitcoin Taxation: Luxembourg’s 48.78% vs Germany’s 0%</a></li>
 <li><a href="https://cryptonewsland.com/why-balajis-insane-1m-bitcoin-bet-isnt-insane-at-all/">Why Balaji’s Insane $1M Bitcoin Bet Isn’t Insane at All</a></li>
 <li><a href="https://cryptonewsland.com/polkadot-ecosystem-thrives-via-zodia-custody-and-parity-technologies-partnership/">Polkadot Ecosystem Thrives via Zodia Custody and Parity Technologies Partnership</a></li>
</ul> 
<p>The post <a href="https://cryptonewsland.com/germanys-3rd-biggest-bank-launches-crypto-custody-investment-service-underway/">Germany’s 3rd Biggest Bank Launches Crypto Custody, Investment Service Underway</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Germany’s 3rd Biggest Bank Launches Crypto Custody, Investment Service Underway

Crypto News Land

Other articles published on Nov 6, 2023

CAGA Crypto's DAO Model: Shaping the Future of Finance Collectively

John Deaton Predicts Ripple’s 99.1% Win in SEC Lawsuit Amidst Legal Setbacks

How Increased Liquidity Might Catapult Bitcoin to a Jaw-Dropping $99,000

Four Reasons Why Investors Are Bullish On Chainlink

Elon Musk denies that X, Tesla, or SpaceX will ever issue crypto tokens

XRP: Whale Transfers $16 Million Worth of Tokens, Will Price Dip?

Join our free newsletter for daily crypto updates!