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Benzinga
Benzinga
Business
Adrian Zmudzinski

If You Can't Beat Them, Join Them: German Banking Giant Commerzbank Applies For Crypto License

Commerzbank Crypto Germany BaFin

One of Germany's top banking institutions, Commerzbank (OTC:CRZBF), confirmed it did indeed apply for a local cryptocurrency license earlier in 2022 so it could legally offer services for people interested in cryptocurrencies such as Bitcoin (CRYPTO: BTC).

What Happened: A Commerzbank spokesperson recently confirmed to local media outlet Börsen-Zeitung that it applied for a crypto license in the first quarter of 2022. If the bank were to obtain such a license, it could offer cryptocurrency exchange and custody services as well as protection of crypto holdings.

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