Germany’s third-largest bank, DZ Bank, has made a significant move in the cryptocurrency space. According to Wu Blockchain’s post, DZ Bank, managing 300 billion Euros in assets, has introduced a blockchain-based digital storage platform tailored for its corporate clients.
This platform enables corporate customers to invest in Bitcoin (BTC) and various other cryptocurrencies.
DZ BANK Securities Services and Digital Custody Manager Dr. Holger Meffert said in his statement:
DZ BANK has launched a new platform for the processing and storage of digital financial instruments. This makes the leading cooperative institution one of the first credit institutions to launch such an offering based on blockchain technology for corporate customers.
We assume that a significant portion of capital market transactions will be processed through distributed ledger technology (DLT)-based infrastructures in the next decade.In the medium term, we see DLT as a complementary technology to the infrastructures established in existing capital market processes.
At this point, while DZ Bank is launching the new platform to keep up with the developments, it is also developing its services for direct investment in cryptocurrencies for individual customers.”
