It is the first "full-service" German bank to secure this license.
The bank plans to leverage blockchain technology to provide crypto custody services to institutional clients.
Commerzbank, a German financial institution, has secured a
crypto custody license from local regulators. This positions Commerzbank as the
first "full-service" German bank to be granted such a license under
the legal framework of the German Banking Act.
Commerzbank's Plan for Traditional and Digital Assets
The license allows Commerzbank to provide custody services
for crypto assets, a capability to offer a range of digital asset services.
Jörg Oliveri del Castillo-Schulz, the Chief Operating Officer of Commerzbank,
stated that it underscores the bank's keenness to embrace the latest
technologies.
Commerzbank seeks to establish a secure platform that
complies with local regulations and to leverage blockchain technology to offer
crypto custody services to its institutional clients. As the cryptocurrency
market gains mainstream acceptance, Commerzbank aims to provide its clientele
with services encompassing traditional and digital financial assets.
BaFin Expedites Licensing Approach for Crypto Custody
Services
Germany's financial market regulator, BaFin, is set to
accelerate its current approach to licensing crypto custody services. BaFin's President, Mark Branson, announced this initiative during the Handelsblatt
Banking Summit in Frankfurt, highlighting its significance in instilling
confidence among investors amid growing volatility and skepticism in the crypto
markets.
The new licensing strategy by BaFin has notable implications
for crypto custody providers, signaling a move in response to the crypto
landscape. The regulatory body has observed a surge in application processes
for crypto custody licenses, completing twice as many in the first eight months
of 2023 compared to the entire previous year.
Branson emphasized the importance of the evaluation process.
The regulator aims to ensure that only companies with a viable business model,
ample start-up capital, and reliable management staff receive permission to
operate in the crypto market.
Branson's remarks underscore BaFin's recognition of both the
risks and rewards associated with the crypto market. He emphasized the
necessity for thorough scrutiny in this sector.
However, BaFin's commitment to regulation does not come
without challenges. The regulatory body has recently joined the anti-Binance
sentiment, rejecting the company's license application in Germany. Binance has
been facing regulatory issues in Europe, exiting Cyprus and the Netherlands amid
legal challenges in the United States.
Commerzbank, a German financial institution, has secured a
crypto custody license from local regulators. This positions Commerzbank as the
first "full-service" German bank to be granted such a license under
the legal framework of the German Banking Act.
Commerzbank's Plan for Traditional and Digital Assets
The license allows Commerzbank to provide custody services
for crypto assets, a capability to offer a range of digital asset services.
Jörg Oliveri del Castillo-Schulz, the Chief Operating Officer of Commerzbank,
stated that it underscores the bank's keenness to embrace the latest
technologies.
Commerzbank seeks to establish a secure platform that
complies with local regulations and to leverage blockchain technology to offer
crypto custody services to its institutional clients. As the cryptocurrency
market gains mainstream acceptance, Commerzbank aims to provide its clientele
with services encompassing traditional and digital financial assets.
BaFin Expedites Licensing Approach for Crypto Custody
Services
Germany's financial market regulator, BaFin, is set to
accelerate its current approach to licensing crypto custody services. BaFin's President, Mark Branson, announced this initiative during the Handelsblatt
Banking Summit in Frankfurt, highlighting its significance in instilling
confidence among investors amid growing volatility and skepticism in the crypto
markets.
The new licensing strategy by BaFin has notable implications
for crypto custody providers, signaling a move in response to the crypto
landscape. The regulatory body has observed a surge in application processes
for crypto custody licenses, completing twice as many in the first eight months
of 2023 compared to the entire previous year.
Branson emphasized the importance of the evaluation process.
The regulator aims to ensure that only companies with a viable business model,
ample start-up capital, and reliable management staff receive permission to
operate in the crypto market.
Branson's remarks underscore BaFin's recognition of both the
risks and rewards associated with the crypto market. He emphasized the
necessity for thorough scrutiny in this sector.
However, BaFin's commitment to regulation does not come
without challenges. The regulatory body has recently joined the anti-Binance
sentiment, rejecting the company's license application in Germany. Binance has
been facing regulatory issues in Europe, exiting Cyprus and the Netherlands amid
legal challenges in the United States.
Crypto Prime Broker Illegally Operated in the US: Settles for $1.8 Million
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa