Commerzbank, Deutsche Börse now offering crypto to corporate clients

Admin l Thursday, Sept. 19, 2024

BERLIN-Commerzbank is expanding its booming cryptocurrency business via a partnership with German stock exchange operator Deutsche Börse to offer corporate clients a way to participate in the cryptocurrency market with Bitcoin and Ether.

The bank has entered into a partnership with Deutsche Börse subsidiary Crypto Finance, both companies announced on Thursday.

The new offering is initially aimed at select existing clients.

While Commerzbank will take care of the custody of the crypto assets, Crypto Finance will deal with the trading side, the companies said. This will give customers secure access to crypto assets, they said.

“With our offering in the field of digital assets, we are providing our corporate clients with the opportunity to take advantage of the opportunities offered by Bitcoin and Ether for the first time,” said Gernot Kleckner, head of Commerzbank’s corporate capital markets unit.

Stijn Vander Straeten, chief executive of Crypto Finance, added that the partnership with Commerzbank was an important milestone for his company, as it would allow them to offer more companies and institutions in Germany access to regulated crypto services.

Crypto Finance considers itself a pioneer in this business. Since 2017, the Deutsche Börse subsidiary has been offering services for the trading of digital assets to professional investors.