Germany’s Two of the top five banks, Commerzbank and DZ Bank, are launching Bitcoin and crypto trading services due to growing institutional demand.
JUST IN: 🇩🇪 $500 billion from Commerzbank goes #Bitcoin and crypto trading. photo.twitter.com/KrOCOx5N9P
— Bitcoin Magazine (@BitcoinMagazine) September 19, 2024
CommerzbankThe country’s second-largest bank by number of branches has signed a deal with Deutsche Boerse subsidiary Crypto Finance to offer corporate clients access to trading. DZ Bank, the country’s second-largest lender, is enabling its 700 cooperative banks to offer Bitcoin and crypto trading through a partnership with Boerse’s Stuttgart stock exchange.
The moves take place only a few weeks apart Cantonal Bank of Zurich in Switzerland began offering retail Bitcoin and crypto services. Major banks worldwide are increasingly embracing Bitcoin and crypto after the successful launch of the first US Bitcoin ETFs.
“Our digital asset offering enables our corporate clients for the first time to seize the opportunities offered by Bitcoin and Ether,” said a Commerzbank executive.
DZ Bank and Commerzbank represent more than $1 trillion in combined 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 to Bitcoin and crypto, making regulated services crucial for portfolio diversification and risk management.
The moves are a milestone for Bitcoin’s integration into European finance. With leading banks offering access, Bitcoin is now becoming more mainstream.