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Germany’s DZ Bank to Offer Crypto Trading Through Boerse Stuttgart: Rollout Details Revealed

John KumiBy 0Edited by Alex Morrison 20. September 20243 Mins Read
Germany Blockchain
Source: Pixeljoy - Shutterstock
  • DZ Bank in Germany is about to partner with Boerse Stuttgart Digital to provide crypto trading and custody services.
  • German banks embrace crypto as Commerzbank (CBK) announces trading services for Bitcoin (BTC) and Ethereum (ETH).

Germany’s second-largest bank, DZ Bank, has announced that it is rolling out cryptocurrency trading and custody services to its 700 cooperative customers in collaboration with Boerse Stuttgart Digital. According to the report, the technical and operational implementation has already started, and the bank is expected to connect by the end of the year. 

The strategic partnership and development follows a recent projection that up to 25% of Europeans would invest in crypto by 2028. Speaking on this, the CEO of Boerse Stuttgart Group, Dr. Matthias Voelkel, highlighted the capabilities of its infrastructure, claiming they are customer-oriented. 

Boerse Stuttgart Digital prides itself on being a regulated trading and custody services platform that enables financial institutions to provide secure crypto access to retail customers. On top of that, it claims to have “strategic pillars” in the capital market and the digital and crypto businesses. According to their official press release, its partnership with DZ Bank would make them the first established players in Europe to provide crypto access to retailers on this scale. 

Commenting on this, Voelkel stated:

We offer Boerse Stuttgart Digital’s proven and fully regulated crypto trading and custody infrastructure to financial institutions across Europe. This is especially interesting for financial institutions that put a particular focus on professionalism, security, reliability, and trust – as does DZ BANK. Our infrastructure solutions are retail-customer-oriented, this is the towering strength of our group.

DZ Bank Following Commerzbank’s Footsteps?

Earlier in February, a Board member of DZ Bank, Souad Benkredda, disclosed to Bloomberg that the institution plans to launch a cryptocurrency trading pilot later in the year. According to him, there would be a list of varieties of assets for customers who prefer to invest “without advice.” He also cited a study by an auditing and consulting association, Genoverband, stating that every second bank plans to provide this solution to customers. 

Recently, Commerzbank (CBK) also disclosed its intention to offer crypto trading services. As reported, it signed a deal with a subsidiary of Germany’s largest stock exchange operator, Crypto Finance, for this effect. Interestingly, CBK became the first bank in the country to apply for a crypto license, as we formerly reported. 

In a press release, Commerzbank disclosed that the trading services offered by its Deutsche Boerse unit would be limited to clients based in Germany with an initial focus on Bitcoin (BTC) and Ethereum (ETH).

The head of capital markets for corporate clients at Commerzbank, Gernot Kleckner, commented on this:

Our offering in digital assets enables our corporate clients to seize the opportunities presented by Bitcoin and Ether for the first time. Our joint solution represents the highest level of security in the trading and custody of crypto assets, which is also a standard we also share with the Deutsche Boerse Group.

The crypto market appears to be in recovery mode. Bitcoin steadily rose to $63.5k after surging by 2% in the last 24 hours. 

Ethereum is also targeting a long rebound. It has increased 5% in the last 24 hours and is trading at $2.5k. 

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This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.

John is a seasoned cryptocurrency and blockchain writer and researcher, boasting an extensive track record of years immersed in the ever-evolving digital frontier. With a profound interest in the dynamic landscape of emerging startups, tokens, and the intricate interplay of demand and supply within the crypto realm, John brings a wealth of knowledge to the table. His academic background is marked by a Bachelor's degree in Geography and Economics, a unique blend that has equipped him with a multifaceted perspective. This diverse educational foundation allows John to dissect the geographical and economic factors influencing the cryptocurrency market, offering insights that go beyond the surface. John's dedication to the crypto and blockchain space is not merely professional but also personal, as he possesses a genuine passion for the technologies that underpin this revolutionary industry. With his astute research skills and commitment to staying at the forefront of industry trends, John is a trusted voice in the world of cryptocurrencies, helping readers navigate the complex and rapidly changing terrain of digital assets and blockchain innovation. John Kiguru is an accomplished editor with a strong affinity for all things blockchain and crypto. Leveraging his editorial expertise, he brings clarity and coherence to complex topics within the decentralized technology sphere. With a meticulous approach, John refines and enhances content, ensuring that each piece resonates with the audience. John earned his Bachelor's degree in Business, Management, Marketing, and Related Support Services from the University of Nairobi. His academic background enriches his ability to grasp and communicate intricate concepts within the blockchain and cryptocurrency space. Business Email: info@crypto-news-flash.com Phone: +49 160 92211628

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