• Commerzbank (CBK) to Offer Bitcoin (BTC), Ether (ETH) Trading Through Deutsche Boerse (DB1) Subsidiary Crypto Finance
• The service will be offered to existing Commerzbank corporate clients in Germany
• It will start with bitcoin and ether trading
Commerzbank, one of Germany’s largest banks, will soon offer cryptocurrency trading to its corporate clients through a partnership with digital asset services provider Crypto Finance. The service will initially allow clients to trade bitcoin and ether using Crypto Finance’s brokerage and custody platform.
Partnership Details
Commerzbank signed an agreement with Crypto Finance to integrate the company’s trading and custody platform into its product offerings for corporate clients.
Crypto Finance is a subsidiary of Swiss stock exchange operator SIX Group. Commerzbank will route its clients’ cryptocurrency orders through Crypto Finance’s brokerage and custody services.
The service will be limited to Commerzbank’s existing corporate clients in Germany. Retail clients will not have access to cryptocurrency trading at launch.
Service Offerings
At launch, Commerzbank will offer bitcoin and ether trading to clients, with plans to expand the service to other cryptocurrencies in the future.
Crypto Finance’s platform will allow clients to trade cryptocurrency directly from their bank accounts without needing to pre-fund crypto wallets. The service includes both brokerage for trading and custody for secure storage of cryptocurrency assets.
Commerzbank said the service will operate under the existing regulatory frameworks applied to cryptocurrency trading in Germany. Clients’ fiat currencies and cryptocurrency assets will be segregated from the bank’s balance sheet.
Conclusion
The move makes Commerzbank the first major German bank to offer cryptocurrency trading services to clients. It comes amid growing interest in cryptocurrency adoption among corporate investors and follows similar moves by major banks in other countries. The limited launch will serve as a test for broader rollout of crypto services if there is enough interest and demand from Commerzbank’s corporate customers.
