{"id":434953,"date":"2022-04-21T07:41:33","date_gmt":"2022-04-21T04:41:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/german-banking-giant-commerzbank-applies-for-crypto-license\/"},"modified":"2022-04-21T07:41:33","modified_gmt":"2022-04-21T04:41:33","slug":"german-banking-giant-commerzbank-applies-for-crypto-license","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/german-banking-giant-commerzbank-applies-for-crypto-license\/","title":{"rendered":"# German banking giant Commerzbank applies for crypto license"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3845a360edc\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3845a360edc\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/german-banking-giant-commerzbank-applies-for-crypto-license\/#%E2%80%9D_German_banking_giant_Commerzbank_applies_for_crypto_license_%E2%80%9C\" >&#8221; German banking giant Commerzbank applies for crypto license &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_German_banking_giant_Commerzbank_applies_for_crypto_license_%E2%80%9C\"><\/span>&#8221; German banking giant Commerzbank applies for crypto license &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMTNhY2VjMmUtZjc1ZC00MGUxLWExNGEtNzVjNmM1NzRkMDM4LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>One of the largest banking institutions in Germany has confirmed it <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lied for a local crypto license earlier this year, marking the first time a major bank has made a move toward cryptocurrencies in the country.<\/p>\n<p>A spokesperson from Commerzbank <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.boersen-zeitung.de\/banken-finanzen\/commerzbank-beantragt-krypto-verwahrlizenz-303b9c3a-bbeb-11ec-8e62-5f7cf1d225cc\">confirmed<\/a> to local <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> outlet B\u00f6rsen-Zeitung on April 14 that it \u201capplied for the crypto custody license in the first quarter of 2022.\u201d If approved it would be authorized to offer exchange services along with custody and protection of crypto-assets.<\/p>\n<p>Commerzbank serves over 18 million customers and over 70,000 institutional clients, and the cryptocurrency offering will reportedly target its institutional client base.<\/p>\n<p>Since Jan. 1 2020 any business wishing to offer cryptocurrency services in Germany must first seek approval from the Federal Financial Supervisory Authority also known as BaFin.<\/p>\n<p>Currently only four companies have approval but BaFin states it has over 25 applications pending from firms wishing to operate crypto custody businesses.<\/p>\n<p>Coinbase Germany was the first to be approved by the regulator in June 2021 and the Berlin based financial <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> firm Upvest was most recently approved for a license in March.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>&#8216;Let\u2019s build a Europe where Web3 can flourish:&#8217; Crypto companies sign an open letter to EU regulators<\/em><\/strong><\/p>\n<p>Commerzbank has seen involvement in blockchain projects as far back as 2018, and carried out some of the first transactions on a distributed ledger technology (DLT) security lending platform with other major banks the following year.<\/p>\n<p>More recently, in August 2021 the firm entered into a partnership to develop blockchain-based digital marketplaces for existing asset classes such as art and real estate.<\/p>\n<p>Germany introduced a raft of reforms, regulations and further adoption of blockchain technology and cryptocurrencies in 2021.<\/p>\n<p>German investors are also keen on adopting crypto. A March report by Kucoin revealed 44% of Germans are \u201cmotivated to invest in cryptocurrencies and \u201c37% of German crypto investors have been trading cryptocurrencies for over a year.\u201d <\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/german-banking-giant-commerzbank-applies-for-crypto-license\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; German banking giant Commerzbank applies for crypto license &#8220; One of the largest banking institutions in Germany has confirmed it applied for a local crypto license earlier this year, marking the first time a major bank has made a move toward cryptocurrencies in the country. A spokesperson from Commerzbank confirmed to local media outlet&#8230;<\/p>\n","protected":false},"author":1,"featured_media":434954,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMTNhY2VjMmUtZjc1ZC00MGUxLWExNGEtNzVjNmM1NzRkMDM4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74888,74858,103940,71939,28340,43905,70934],"class_list":["post-434953","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-banking","tag-bitcoin-regulation","tag-commerzbank","tag-banks","tag-europe","tag-germany","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/434953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=434953"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/434953\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/434954"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=434953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=434953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=434953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}