Germany’s Commerzbank und DZ Bank are two of the five biggest banks in Germany. They have launched Bitcoin and Crypto trading services to satisfy growing institutional demand.
JUST IN: 🇩🇪 $500 billion Commerzbank to offer #Bitcoin Crypto trading is a growing industry. pic.twitter.com/KrOCOx5N9P
— Bitcoin Magazine (@BitcoinMagazine) September 19, 2024
CommerzbankThe country’s largest bank in terms of branch count,, has signed an agreement with the subsidiary Crypto Finance, a division of Deutsche Boerse, to offer trading services for its corporate clients. DZ Bank is the second largest lender in the country. It has partnered with Boerse Stuttgart to enable 700 of its cooperative banks offer Bitcoin and cryptocurrency trading.
These moves are just a few weeks after Zurich Cantonal Bank in Switzerland Retail Bitcoin services and crypto were launched. After the success of the U.S. Bitcoin exchange-traded funds, banks are adopting Bitcoin and other cryptos.
“Our offering in digital assets enables our corporate clients to seize the opportunities presented by Bitcoin and ether for the first time,” A Commerzbank executive said.
DZ Bank und Commerzbank manage a combined total of over 1 trillion dollars in assets. They have significantly increased mainstream Bitcoin access in Europe’s most developed economy. DZ Bank’s trading head said that professional investors were rapidly making Bitcoin and cryptocurrency their primary investment. This makes regulated services essential for portfolio diversification, risk management and to manage risks.
These moves mark a major milestone in the integration of Bitcoin into European Finance. Bitcoin’s acceptance is increasing now that leading banks are providing it.Â
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Source: bitcoinmagazine.com