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- Boerse Stuttgart Digital collaborates with Dekabank to provide crypto trading services to institutional customers.
- Dekabank obtained a license to custody of the German and European authorities last year.
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DEKABANK, a large German bank with $ 395 billion in assets under management, joins forces with BOSERSE Stuttgart Digital to feed its crypto trading services, such as shared today by the digital asset arm of Boerse Stuttgart Group.
As part of the strategic collaboration, Dekabank takes advantage of the modular and fully regulated infrastructure of Boerse Stuttgart Digital for digital assets.
The partnership focuses on the provision of the bank customers transparent and secure access to cryptographic trading. Boerse Stuttgart Digital expects that it could help stimulate institutional adoption, especially on the European market.
This decision follows the launch by Dekabank of trading and Crypto trading services for institutional customers, according to a Bloomberg Monday report. The company based in Frankfurt spent two years preparing its infrastructure for the launch and end of documents.
The entry of the company based in Frankfurt on the institutional cryptography market comes after having obtained a custody license for the cryptography of the Federal Financial Supervision Authority in Germany (BAFIN) and the European Central Bank (ECB) by the end of 2024.
“We have the necessary experience, the licenses required and an infrastructure tested and ready to employ to support Sparkassen and our other institutional customers,” said the member of the board of directors of Dekabank, Martin Müller.
Regulators become more comfortable with cryptographic assets, at least in the context of institutional investment.
This is another story for retail crypto trade. In the Sparkassen network of Germany, to which Dekabank belongs, the retail crypto strategy remains largely in dispute.
Meanwhile, Volks- and Raiffeisenbanken, another large banking group in Germany, plan to launch a retail crypto offer.
Dekabank believes that institutional investors have expertise, resources and infrastructure to manage the risks of investment in professionally cryptography. The bank sees potential use cases where crypto investments could be strategically beneficial, such as the diversification of the portfolio.
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