DekaBank launches crypto trading and custody services for institutional clients, with Ripple providing the underlying infrastructure.
The Germany-based DekaBank has introduced crypto services exclusively for institutional investors, enabling them to trade, store, and manage digital assets.
Bloomberg reported the development, noting that these services do not extend to private buyers. Meanwhile, discussions are ongoing within the savings bank group, which includes DekaBank, regarding the potential future offering of crypto services to retail clients.
Regulatory Compliance and Institutional Services
DekaBank has established itself as a regulated financial institution in the crypto market, catering solely to institutional clients. According to Board Member Martin Müller, the bank has acquired the necessary regulatory approvals, extensive experience, and a functional infrastructure to assist institutional investors and savings banks.
A major focus of DekaBank’s crypto services is security. The institution has obtained a crypto custody license from both the European Central Bank (ECB) and Germany’s Federal Financial Supervisory Authority (BaFin).
Recall BaFin granted 11 crypto custody licenses, mainly to digital asset firms. However, major banks, including DZ Bank, have not yet received such approvals. Among the institutions that secured a license was Hauck Aufhäuser Lampe Privatbank’s digital asset custody subsidiary.
DekaBank Previous Licensing and Expansion
DekaBank’s crypto custody license was its second regulatory approval within the past year. In July, the bank received authorization as a crypto securities registrar under Germany’s blockchain-based securities regulations.
This approval allowed the issuance of digital securities without the need for a central securities depository (CSD).
Ripple’s Involvement
Ripple, a firm specializing in digital payments and financial solutions, commented on DekaBank’s entry into crypto custody. The company stated that the bank’s institutional crypto trading and custody services are powered by its custody solution. Ripple remarked:
“DekaBank is launching digital asset trading and custodial services for institutions on Ripple Custody. A clear sign of developing demand for institutional crypto custody solutions.”
DekaBank is rolling out crypto trading and custody services for institutions, built on Ripple Custody.
A clear sign of growing demand for institutional-grade crypto custody solutions.🔒https://t.co/F9yApLJZ5e
— Ripple (@Ripple) February 24, 2025
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