Germany’s DZ Bank Plans to Launch Crypto and Bitcoin Trading
Germany’s second-largest bank, DZ Bank, is making moves to expand its presence in the crypto market. The bank recently announced its plans to launch a pilot program for cryptocurrency trading later this year.
The pilot program, which is set to launch with the help of a group of partners, will focus on retail transactions for cryptocurrencies. This move comes after the bank successfully launched a custody platform for cryptocurrencies in November of last year.
DZ Bank’s decision to enter the crypto market comes as institutional investors show a growing interest in digital assets. The bank aims to increase its crypto trading presence by offering services for popular cryptocurrencies like Bitcoin.
Souad Benkredda, a member of DZ Bank’s board, stated that the pilot program will involve the bank working with cooperative banks to test retail trading of cryptocurrencies. The bank is also open to welcoming customers who are interested in trading Bitcoin.
DZ Bank’s Crypto Presence
In addition to its upcoming pilot program, DZ Bank has also made significant strides in the crypto industry in recent months. In November of last year, the bank launched a digital asset custody platform in partnership with Metaco.
This platform, which uses blockchain technology, is designed to process and safeguard digital financial instruments. DZ Bank has also partnered with Ripple Labs to utilize Metaco’s digital asset custody platform and orchestration system for its crypto services.
The growing demand for crypto in Germany, particularly among institutional investors, has prompted DZ Bank to expand its presence in the market. With over 10 years of experience in fintech and 5 years in the blockchain and crypto sectors, Varinder Singh, the author of this article, believes that the future of innovative technologies looks bright. Stay updated with the latest news and updates in the crypto industry through CoinGape Media.
