Commerzbank‘s Bitcoin Ethereum adoption is changing Germany’s banking scene. The bank is a major player with $500 billion of assets. Crypto Finance. Now they are offer regulated crypto trading servicesThis could lead to a greater institutional adoption of crypto.
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The Institutional Crypto Adoption Driven by Commerzbank Regulated Crypto Trading Service
Crypto Trading in the Corporate Sector: A New Era
Commerzbank offers Bitcoin and Ethereum to its corporate customers. The new initiative shows that cryptocurrencies are being accepted more and more in the traditional financial world. The bank partnered with Crypto Finance, a Deutsche Börse subsidiary. For now, selected customers are able to trade digital assets within a regulated environment.
Secure Trading and Custody Solutions
German business is increasingly demanding crypto. Crypto Finance manages the Bitcoin and Ethereum trading. Commerzbank also manages custody for these assets. The setup allows clients to trade cryptocurrency while adhering to crypto regulations.
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Expansion of Institutional Cryptocurrency Access
Crypto Finance began working with digital assets in 2017. Recently, they expanded into Germany and Germans were grateful for that. The company has been granted licenses that allow it to service institutional customers. They will gradually release their features. This is a process that perfectly matches the growth in interest among businesses for digital currencies. This is a huge step but it’s necessary!
Crypto Market Implications
Commerzbank has shown that they view Bitcoin and Ethereum in the future as valuable assets. This decision is expected to accelerate institutional crypto adoption. Time will tell.
The image below shows the adoption levels in Q1 of 2024. As the second quarter came to a close, the adoption level dropped. However, it is still above the high levels of Q4 2020.
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We’re eager to release the new feature soon for all bank clients. This collaboration between a major German bank and an established crypto service provider may set off a new trend. Would other banks follow suit in the near future? We know that this approach may result in more institutions getting involved with cryptocurrencies.
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Source: watcher.guru