Commerzbank joins Deutsche Börse to boost crypto services

Commerzbank has announced a new partnership with Crypto Finance, a subsidiary of Deutsche Börse, to provide regulated cryptocurrency trading and custody solutions for its corporate clients. 

This collaboration marks a significant step in integrating digital assets like Bitcoin and Ether into the bank’s corporate banking offerings. 

According to the announcement, the joint service will initially focus on Bitcoin and Ether, providing selected Commerzbank corporate clients in Germany with secure access to digital assets. 

Commerzbank will handle the custody of the digital assets, ensuring their safety, while Crypto Finance will manage the trading services. 

The Swiss-based Crypto Finance is regulated by FINMA and licensed by Germany’s BaFin, reinforcing the service’s compliance with regulatory standards. 

Gernot Kleckner, Commerzbank’s Divisional Board Member for Capital Markets, highlighted the importance of this collaboration, stating, "Our digital asset offering enables corporate clients to seize the opportunities presented by Bitcoin and Ether for the first time." 

He emphasised the security standards shared with the Deutsche Börse Group as key to the offering’s credibility. 

Commerzbank is no stranger to the world of blockchain and digital assets. 

The bank is involved in several projects, including the 360x joint venture with Deutsche Börse, which focuses on the tokenisation of real estate, art, and music. 

The bank is also part of the Commercial Bank Money Token project, exploring tokenised deposits. 

This move comes as other major German banks, including DZ Bank and LBBW, are also gearing up to offer crypto services to their corporate clients.