German bank DekaBank introduces crypto trading for institutional investors: report

Dekabank exclusively launched the negotiation, childcare and cryptocurrency management services for institutional customers.

Retail investors are explicitly excluded, and the Sparkassen group, to which Dekabank belongs Bloomberg.

Bank has got A license to keep cryptography of the European Central Bank and the German financial regulator, Bafin, positioning itself as a secure option for institutional customers.

The member of the board of directors of Dekabank, Martin K. Müller, said that the organization has the necessary experience, the required licenses and an infrastructure of the job to use.

Crypto exchange for other banks

Other banks from the Sparkassen group also enter the institutional cryptography market. For example, LBBW recently announced A partnership with Crypto Exchange Bitpanda to provide companies with companies with an cryptocurrency childcare and negotiation.

The position on retail investors remains uncertain. Although the sector previously avoided such offers, it is currently reassessing its position.

On the other hand, the German cooperative banks, led by DZ Bank, plan to introduce crypto services for all retail customers in summer, reports Bloomberg.

According to Dekabank, institutional investors have expertise, resources and infrastructure to manage the risks linked to the crypto in a professional manner.

The bank sees strategic opportunities for cryptographic investments, in particular in the diversification of the portfolio.