Two of Germany’s top five banks, Commerzbank and DZ Bank, are launching Bitcoin and crypto trading services amid growing institutional demand.
JUST ENTER: 🇩🇪 $500 billion Commerzbank to give away #Bitcoin and crypto trading. pic.twitter.com/KrOCOx5N9P
– Bitcoin Magazine (@BitcoinMagazine) September 19, 2024
Commerzbank, the country’s second largest bank by number of branches, has signed an agreement with Deutsche Boerse subsidiary Crypto Finance to provide corporate clients with access to trading. DZ Bank, the nation’s second largest lender, is allowing its 700 banks to offer Bitcoin and crypto trading in partnership with the Boerse Stuttgart exchange.
The moves come a few weeks after Switzerland’s Zurich Cantonal Bank began offering Bitcoin and crypto services. Major banks around the world are increasingly accepting Bitcoin and crypto following the successful launch of the first US Bitcoin ETFs.
“Our offering of digital assets enables our corporate clients to take advantage of the opportunities presented by Bitcoin and ether for the first time,” said the Commerzbank CEO.
DZ Bank and Commerzbank represent more than $1 trillion in combined assets under management. Their entry greatly increases the general reach of Bitcoin in the European economy. DZ Bank’s head of trading said that professional investors are quickly allocating Bitcoin and crypto, making regulated services more important for portfolio diversification and risk management.
The steps are a milestone in Bitcoin’s integration into European finance. As leading banks provide access, Bitcoin is now the most advanced.