Commerzbank to launch secure bitcoin and ether trading with crypto finance partnership
Crypto Finance, a subsidiary of Deutsche Boerse, has jumped onboard with Commerzbank (CBK) and strengthens bonds with Germany’s second-largest bank for offering Bitcoin (BTC) and Ether (ETH) trading services to the bank’s corporate clients. This collaboration was in the latter weeks of the Zürcher Kantonalbank (ZKB) in Switzerland signing a similar agreement. For the new service clients in Germany, it will also include custody services among the others which means that it is one of the trade security protocols that the clients can have regarding digital assets.
Commerzbank secured a cryptocurrency storage authorization in November 2023, hence enabling the bank to develop its services in the cryptocurrency market. Initially, the trading services will center around the two most significant cryptocurrencies, Bitcoin and Ether, which mark a significant step in the bank’s acceptance of digital assets.
“Our offering in digital assets enables our corporate clients to seize the opportunities presented by Bitcoin and Ether for the first time,” said Gernot Kleckner, head of capital markets for corporate clients at Commerzbank. “Our joint solution represents the highest level of security in the trading and custody of crypto assets, which is also a standard we share with the Deutsche Boerse Group.”
The agreement is evidence of Commerzbank’s promise to cryptocurrencies incorporating into its portfolio that will strengthen its role in the financial ecosystem growing quickly. The project aims with safety trading and full storage alternative platforms to propose to corporate clients a new way of doing business with digital goods.