DZ Bank, Germany’s second-largest bank, said in a press release on Thursday that it will work with Boerse Stuttgart Digital to provide cryptocurrency services to its 700 partner bank clients.
The bank will provide cryptocurrency trading and custody services to its partner bank clients, enabling them to offer digital assets to their retail clients. Boerse Stuttgart Digital said that technical and operational preparations have begun, the first banks will be connected this year, and a phased promotion and testing will be carried out for selected retail customers.
“We offer Boerse Stuttgart Digital’s proven and fully regulated crypto trading and custody infrastructure to financial institutions across Europe,” said Matthias Voelkel, CEO of Boerse Stuttgart Group.
The Frankfurt-based bank manages $627 billion in assets and launched a cryptocurrency custody platform in November last year. (CoinDesk)