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.
READ MORE: Hedge Fund Veteran Ray Dalio Believes Bitcoin is Not a Good Store of Wealth
Another bank that partnered with Metaco to provide digital assets custody was DekaBank – the largest bank in Germany with over $434 billion in AUM.
In January German bank N26, announced it would provide crypto trading services in several European countries, including Germany, Switzerland, Ireland, Belgium, and Portugal.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
