DekaBank has partnered with METACO, a Switzerland-based cryptocurrency firm, to offer crypto-related services.
As bitcoin halves more than 40% in 2023, crypto adoption has started to kick in. Brands have started collaborating with crypto-related businesses as the sentiment has recovered.
With millions of customers, traditional banking services have the potential to bring maximum visibility to the crypto asset class. Germany’s largest securities service provider – Decabank has partnered with Metaco to enter the digital asset segment.
Decabank lays foundation to provide digital asset services
Decabank is one of the largest securities service providers in the German savings bank finance group. The official website shows it has more than €400 billion ($434 billion) in assets under management. The bank has been operating for more than 100 years and has more than 5.2 million securities accounts.
The bank will use Metaco’s Harmonize platform to provide digital asset custody and management operations to its customers.
“Digital assets are an important part of the future, a new way to represent assets, from currencies to real estate,” said Andreas Sack, Decabank CEO. Today we are happy to give our institutional investors and millions of people in Germany access to this transformative opportunity. Taking another important step towards laying the foundation for providing
Banks expand into the crypto sector
Banks are gradually expanding the digital asset class due to increasing customer demand. Along with DekaBank, another German bank, N26, announced this month to provide crypto trading services to various European countries.
N26 aims to provide its customers in Germany, Switzerland, Ireland, Belgium and Portugal with the ability to natively trade over 200 cryptocurrencies.
In November last year, Union Bank of the Philippines announced crypto trading services for its customers. Union Bank also used METACO’s Harmonize platform. Significantly, Union Bank is the largest bank in the Philippines.
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