Commerzbank, ranking as Germany's fourth-largest bank, recently announced its achievement as the first among its German counterparts to obtain the Bitcoin and Crypto Custody License, as per Article 1 Section 1a Sentence 1 No 6 of the German Banking Act (KWG).

This license marks a significant step for Commerzbank, enabling it to progress in developing an extensive array of services related to Bitcoin and other digital assets. 

The bank's initial focus is to establish a reliable, secure, and compliant platform tailored for institutional clients needing safe custody for their Bitcoin and digital assets.

Dr. Jörg Oliveri del Castillo-Schulz, the Chief Operating Officer of Commerzbank, commented on this achievement, stating, “this highlights our ongoing commitment to applying the latest technologies and innovations, and it forms the foundation for supporting our customers in the areas of digital assets.”

The acquisition of this license indicates Commerzbank's effort to establish a trusted and secure environment for Bitcoin and other digital assets, aiming to contribute to the ongoing development in the sector.

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