Key Details:
- Assets: At launch, the service will support Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Cardano (ADA).
- Custody and Execution: Boerse Stuttgart Digital Custody will handle the safeguarding of assets, while trade execution will be managed by EUWAX
DZ Bank, Germany’s second-largest banking institution, has received regulatory approval from the Federal Financial Supervisory Authority (BaFin) to launch a cryptocurrency trading platform, marking a significant entry of traditional German finance into the digital asset space.
The approval, granted under the Markets in Crypto-Assets Regulation (MiCAR) framework, authorizes the bank to operate its new platform, “meinKrypto.” The service is designed to allow the country’s extensive network of cooperative banks—Volksbanken and Raiffeisenbanken—to offer digital asset trading directly to retail customers.
The move follows DZ Bank’s application for a crypto custody license in June 2023 and signals growing institutional adoption in Germany’s strictly regulated financial sector.
By leveraging the cooperative banking sector’s vast reach, DZ Bank is positioned to make crypto trading accessible to a broad segment of the German retail market.
Source:https://crypto.news/germanys-second-largest-bank-receives-bafin-approval-to-launch-crypto-trading/