DZ Bank to Offer Digital Asset Custody to Institutional Clients
DZ Bank, an asset manager based in Germany, has collaborated with Metaco, a Switzerland-based company, to add digital asset management to its service offerings.
DZ Bank, one of the largest banks in Germany, has collaborated with Metaco to deliver a digital assets custody service to its institutional clients.
With the recovery of the broader cryptocurrency market in 2023, banking giants are expanding their services to include the digital assets sector.
DZ Bank has custody of assets worth approximately $314.82 billion and has partnered with Metaco for its digital assets custody initiative. According to Marcel Heinrichsmeier, an analyst at the German bank, the crypto winter could be over.
Metaco will provide DZ Bank with various deployment methods and hardware-enforced key management infrastructure to enable it to offer digital asset custody to its institutional clients.
In January German bank N26, announced it would provide crypto trading services in several European countries, including Germany, Switzerland, Ireland, Belgium, and Portugal.