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Commerzbank becomes the first major German bank to receive a cryptocurrency custody license, signaling a strategic move into digital asset services. Commerzbank AG, Germany’s fourth-largest banking institution, has obtained a regulatory custody license for crypto currencies. This makes Commerzbank the first German full-service bank to acquire such a license , marking a significant step in integrating digital assets into traditional banking services. Wir haben als erste deutsche Universalbank die #Kryptoverwahrlizenz erhalten. Diese ermöglicht uns, ein breites Spektrum von Dienstleistungen im Bereich digitaler Vermögenswerte, speziell Kryptowerte, aufzubauen. Mehr dazu im Interview mit Dr. Jörg Oliveri del Castillo-Schulz. — Commerzbank (@commerzbank) November 15, 2023 You might also like: BitGo receives BaFin license in Germany The authorization, under Article 1 Section 1a Sentence 1 No 6 of the German Banking Act (KWG), allows Commerzbank to offer extensive...

Commerzbank has become the first full-service bank in Germany to receive regulatory approval for a crypto custody licence. Commerzbank, among the top four largest banks in Germany, has taken a huge step towards providing its clients access to secure digital assets custody. This is after it became the first full-service bank in the country to receive a crypto custody licence from the Federal Financial Supervisory Authority (BaFin). The regulatory approval was granted pursuant to the German Banking Act (KWG), Frankfurt-based Commerzbank said in an announcement on Wednesday. Commerzbank eyes crypto custody According to the details shared in the press release, the licence allows the bank to develop its digital asset services solutions, including one that specifically targets crypto assets. “Now that we have been granted the licence, we have achieved an important milestone. This highlights our ongoing commitment to applying the latest technologies and in...

The BRICS summit ended on a positive note as the alliance inducted six new countries into the bloc. The six countries that will join BRICS are Saudi Arabia, the UAE, Argentina, Iran, Egypt, and Ethiopia. However, the US, Europe, and other Western allies are closely watching the BRICS expansion and their agenda of de-dollarization. The US, Germany , and the European Union reacted to the recent BRICS expansion and their de-dollarization efforts. Also Read: After BRICS, G20 Summit in the Spotlight BRICS Expansion: The US, Germany & European Union React Source: ft.com The US White House Press Secretary, Karine Jean-Pierre, said that America will not stop other countries from choosing partners to trade with. She emphasized that the US is focused on trading with all countries and won’t interfere in their internal affairs. Also Read: BRICS Discussing to Launch a New Settlement Currency for Global Trade “US policy does not ask our partners to choose between the...