DekaBank, a major German financial institution with 377 billion euros in assets under management, has launched cryptocurrency trading and custody services tailored for institutional clients. This move comes after the bank received regulatory approval for a crypto custody license from Germany's Federal Financial Supervisory Authority (BaFin). DekaBank aims to enhance security and ensure compliance as it operates under the oversight of the European Central Bank (ECB). Board member Martin K. Müller highlighted that the bank possesses the necessary experience and infrastructure to support both savings banks and institutional clients. Other financial institutions in Germany are also venturing into cryptocurrency, with Landesbank Baden-Württemberg partnering with Bitpanda for corporate clients and DZ Bank planning a cryptocurrency offering for private customers by mid-year. The competitive landscape reflects a growing acceptance and integration of digital assets within the German financial system.

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