100-years-old German Bank jumps into Crypto business
DekaBank will provide Crypto services with the help of a Crypto platform.
DekaBank Deutsche Girozentrale is a Asset Management and Capital Market Solutions for Sparkassen-Finanzgruppe. This company was established in 1918 and at that time the basic goal of this company was only to become a hub for payments within the German savings banks system. So now the current age of this bank is more than 104 years.
On 31 Jan 2023, A press release confirmed that DekaBank established a partnership with Switzerland-based cryptocurrency platform METACO.
This German Bank provides services to 5.2 million securities accounts and now these 5.2 million accounts will get Crypto services easily via the METACO Harmonize platform. Bank customers will be able to hold & trade crypto assets easily but banks will mainly focus to provide the best Crypto custody service to the customers.
At present, the Bank provides services to 1.5 million retail customers & more than 500 institutional customers. In short, the new service will push crypto adoption among small & also big investors.
Andreas Sack, the executive at DekaBank, also shared his thoughts on this new service of the Bank and said that Crypto & blockchain technology is a new way to represent the potential of assets, currencies & real estate.
Further Bank executive said:
“Today we make another important step towards laying the foundation for giving our institutional investors and millions of people in Germany access to this transformational opportunity.”
It is worth it to note that competition among the banks to provide Crypto services is increasing. Just two weeks ago, German-based bank “German Neobank N26” announced a more convenient way to buy Bitcoin with full safety. For Crypto service, Bank collaborated with the Bitpanda platform in October 2022.
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