DekaBank has received the crypto custody licence under the German Banking Act (KWG) from the European Central Bank (ECB) and the Federal Financial Supervisory Authority (BaFin).
The firm says that the licence enables them to offer customers secure custody of digital assets.
In addition, the licence also enables DekaBank to operate within the expanded European regulatory framework of the Markets in Crypto Assets Regulation (MiCAR), which will come into force in full on 30 December 2024.
DekaBank says it can now build its crypto custody offering on the basis of this long-term legal framework.
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