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<p style="text-align: justify">Germany’s third-largest bank, DZ Bank, has announced the launch of a blockchain-based digital custody platform that allows its corporate customers to invest in cryptocurrencies. DZ Bank also stated that it has developed services for individual customers to invest directly in cryptocurrencies.</p>
<h2 style="text-align: justify" id="dz-bank-begins-offering-cryptocurrency-services-for-corporate-customers">DZ Bank Begins Offering Cryptocurrency Services for Corporate Customers</h2>
<p style="text-align: justify">DZ Bank, the third-largest custody institution in Germany and the largest among German custody institutions with a volume exceeding 300 billion euros, has announced the launch of a blockchain-based cryptocurrency trading and custody platform for its corporate customers.</p>
<p><img decoding="async" class="aligncenter size-full wp-image-273767" src="https://coin-turk.com/wp-content/uploads/2023/11/Almanya-Kripto-Para-Bitcoin-Altcoin.jpeg" alt="" width="1200" height="796"></p>
<p style="text-align: justify">Holger Meffert, Head of Securities Services and Digital Custody at the bank, stated, “In the next decade, we assume that a significant portion of capital market transactions will be processed through Distributed Ledger Technology (DLT)-based infrastructures. In the medium term, we see DLT as a complementary <a href="https://newslinker.co/category/technology/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">technology</a> to established infrastructures in existing capital market processes.” The bank has hired dozens of new employees in the areas of IT, operations, and compliance to operate the new custody solution.</p>
<p style="text-align: justify">It was known that DZ Bank had been working on blockchain technology for years. The German banking giant, which started building a digital custody platform for its corporate customers in 2022, initially focused on crypto securities. This includes Siemens’ crypto bond, which Union <a href="https://en.coin-turk.com/what-is-dxy-impact-on-cryptocurrencies/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investment</a> and DZ Bank subscribed to six months ago and is now under the bank’s supervision. The bank has previously served as a clearing agent and custodian for Bankhaus Metzler’s crypto fund shares in the first external transaction.</p>
<h2 style="text-align: justify" id="cryptocurrency-services-will-also-be-provided-for-individual-customers">Cryptocurrency Services Will Also Be Provided for Individual Customers</h2>
<p style="text-align: justify">In order to enable corporate customers to invest in cryptocurrencies such as <a href="https://en.coin-turk.com/cryptocurrency-analyst-predicts-prolonged-downtrend-for-bitcoin-btc-after-testing-key-price-range/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) in the future, DZ Bank applied to the German Federal Financial Supervisory Authority (BaFin) for a crypto custody license in June. In parallel with the solution for corporate customers, the bank is also working on services that will allow individual customers to invest directly in cryptocurrencies.</p>
<p style="text-align: justify">Thanks to its existing infrastructure, the bank is also actively involved in the exploratory phase where the European Central Bank (ECB) tests high-volume capital market transactions using central bank money.</p> Continue Reading: <a href="https://en.coin-turk.com/dz-bank-launches-blockchain-based-digital-custody-platform-for-corporate-customers/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/dz-bank-launches-blockchain-based-digital-custody-platform-for-corporate-customers/</a>

DZ Bank Launches Blockchain-Based Digital Custody Platform for Corporate Customers

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