Two of Germany’s five largest banks, Commerzbank and DZ Bank, have launched Bitcoin and cryptocurrency trading services amid growing institutional demand.
Urgent: 🇩🇪 Commerzbank to offer $500 billion #Bitcoin And trading in cryptocurrencies. pic.twitter.com/KrOCOx5N9P
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Commerzbank, the country’s second-largest bank by number of branches, has signed an agreement with Deutsche Börse’s Crypto Finance to provide trading access to corporate clients. DZ Bank, the country’s second-largest lender, is enabling 700 cooperative banks to offer bitcoin and cryptocurrency trading through a partnership with the Stuttgart Stock Exchange.
The moves come just weeks after Zurich Cantonal Bank in Switzerland began offering retail services for bitcoin and cryptocurrencies. Major banks around the world are increasingly embracing bitcoin and cryptocurrencies following the successful launch of the first exchange-traded funds in the United States.
“Our digital asset offerings enable our corporate clients to seize the opportunities presented by Bitcoin and Ethereum for the first time,” said a Commerzbank executive.
DZ Bank and Commerzbank together represent over $1 trillion in assets under management. Their entry significantly expands mainstream access to bitcoin in Europe’s largest economy. DZ Bank’s head of trading said professional investors are rapidly allocating their investments to bitcoin and cryptocurrencies, making regulated services essential for portfolio diversification and risk management.
These steps mark a milestone in the integration of Bitcoin into the European financial system. With leading banks providing access to Bitcoin, Bitcoin is now becoming more mainstream.
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