German bank DekaBank starts trading cryptocurrency

The German investment fund DekaBank, which manages assets of 377 billion euros ($395 billion) for the country's largest financial services group, Sparkassen-Finanzgruppe, is launching services for trading digital assets. This was reported by the bank's press service.

Preparation for the launch took two years. The technical support for the project will be provided by the Ripple Custody platform. DekaBank has received approval to operate in the digital assets market from the Federal Financial Supervisory Authority (BaFin) and the European Central Bank (ECB). Currently, the new service is available only to corporate clients, and the issue of expanding access to other clients is still open.

Since 2023, DekaBank has been providing the Sparkassen-Finanzgruppe group with services for the custody of crypto assets and digital securities.

Earlier, we reported that the investment division of T-Bank — T-Investments — will provide users with access to operations with digital financial assets (DFA) by the end of 2024.