Germany's Major Federal Bank Embraces Crypto for Institutional Players: Details

Germany's largest federal bank has announced its plans to offer cryptocurrency custody services

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Major German Bank Applies For Crypto Custody License

Commerzbank joins a list of 21 others pushing for a crypto custody license in Germany. They are the first Bank in Germany to take such steps. Institutional adoption of cryptocurrencies in Germany appears to be steadily on the rise.

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Germany's Commerzbank Applies for Local Crypto License

If the license application is accepted, the bank would be authorized to offer exchange and crypto-asset services.

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German banking giant Commerzbank applies for crypto license

A spokesperson for Commerzbank confirmed to local media that it applied for the license with BaFin earlier this year as a first for a major bank in Germany.

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BitMEX Group to Acquire One of Oldest Banks in Germany

A large BitMEX-related company plans to buy German Bank Bankhaus von der Heydt, which launched a Stellar-based stablecoin in 2020

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Swarm Markets inks deal with Germany’s Volksbank to digitize bonds on Polygon

Swarm Markets, an open platform for the creation and management of blockchain assets, announced today it will be developing its first digital security in partnership with Volksbank Mittweida, a German-based bank.

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Germany's Largest Savings Bank to Give 50 Million People Exposure to Bitcoin

Germany's largest savings bank planning to allow customers to buy/sell and HODL Bitcoin

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Caceis Goes Live with Retail and Institutional SRD II Solution from Broadridge

 In response to new regulatory obligations under the updated Shareholder Rights Directive (SRD II), CACEIS Bank S.A., Germany Branch has selected global Fintech leader Broadridge Financial Solutions, Inc. ...

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German Bank Donner & Reuschel to Offer Crypto Custody Services in Response to a ‘High Market Demand’ in the Country

Cryptocurrency adoption among the traditional banking industry keeps spreading across the board, and it has arrived at a bank based in Hamburg, Germany. Donner & Reuschel is set to make its inception into the crypto business by offering related custody services.

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Banks Turn Away Customer Deposits due to Negative Interest Rates in Germany

Banks in Germany are reportedly turning customer deposits away due to the negative interest rate imposed on them by the European Central Bank (ECB). Some banks are even offering online tools to help customers take their deposits elsewhere.

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Germany’s Biggest Bank to Offer Crypto Custody Services

Germany’s largest bank, Deutsche Bank AG is working on offering crypto custody services, a WEF report says. The report details the plans of the bank to become a custodial services provider for institutional investors because of the growing interest from this group of investors.

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Swiss Bank to Start Market Making Bitcoin ETPs, Taps Specialists

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EY May Witness Client Defections Following Wirecard Woes

Coinspeaker EY May Witness Client Defections Following Wirecard WoesEY subsidiary in Germany has been Wirecard’s trusted auditor and with KfW accounting records under scrutiny by the German government the bank has indicated its readiness to drop EY in order to avoid conflict of interest.

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Germany: Crypto-Friendly Bank Offers Four Percent Annual Interest on Bitcoin (BTC)

Bitwala, a Berlin-based crypto-friendly bank, has joined forces with Celsius, a leading crypto lending platform, to offer its clients up to four percent annual interest on their Bitcoin (BTC) holdings.

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Over 40 German bank express interest in crypto custody

Germany's Federal Financial Supervisory Authority [BaFin] reportedly received over 40 expressions of interest from banks for the issuance of a cryptocurrency custody services license. The report stateThe post Over 40 German bank express interest in crypto custody appeared first on AMBCrypto.

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Deutsche Bank Reports €5.3 Billion in Net Loss for 2019 as It Counts the Cost of Restructuring

A year of reorganization has left its mark on Germany’s leading financial institution. Deutsche Bank revealed this week it suffered significant losses in the last quarter and all of 2019. The banking giant claims that the damage is “entirely driven by transformation-related effects” such as compensation for sacked employees and devalued assets.

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Deutsche Bank: Cryptocurrencies Won’t Replace Cash ‘Anytime Soon’

Cash is unlikely to disappear anytime soon despite the decline of its use as a payment method and the surge of digital currencies, Germany’s largest bank believes

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6 Bankers Accused of Earning €30M in Bonuses From German Fraud, Tax Lawyer Out on €4M Bail

Former bank employees have received bonuses worth millions of euros in an illegal trading scheme that also involved a tax lawyer, prosecutors in Frankfurt revealed this week. The case is part of multiple investigations carried out across Germany, the hardest hit country in a notorious tax fraud scandal known as the Cum-ex Files.

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German central banker warns against a digital euro

The head of Germany’s central bank, Dr. Jens Weidmann, told Handelsblatt that the European Union should refrain from launching a digital euro. Instead, banks should improve their payment services to compete with the growing cryptocurrency market.

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Germany: Central Bank Urges Europe To Strengthen Banking System Over CBDC Route

Jan Weidmann, the President of the Bundesbank, holds some very unique thoughts on the topic of money, digitization, and the network effect of payment services. Speaking with Handelsblatt, he offers his perspective on opposing Libra, which is centered around a market-oriented approach rather than endorsing the launch of a state-backed competitor such as a digital euro, JanuaryRead MoreRead More.

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Deutsche Bank says crypto could replace cash by 2030

A new report by Germany’s largest lender, Deutsche Bank, suggests that blockchain-powered digital currencies could replace cash payments within the next decade. The report says that fiat currency as we know it today may soon give way to new alternatives.

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Bitcoin-Friendly Bank SEBA Expands to Nine More Countries

SEBA Bank AG, a Swiss-based, lender licensed by the nation’s Financial Market Supervisory Authority (FINMA) to offer a range of traditional banking services as well as cryptoassets products to its clients, has now expanded its operations to nine new jurisdictions including Italy, Germany, and Singapore, among others, according to reports on December 12, 2019.

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Regulated Swiss Crypto Bank SEBA Expands Services to 9 New Countries

Swiss crypto bank SEBA has rolled out its services to clients across Singapore, Hong Kong, the U.K., Italy, Germany, France, Austria, Portugal

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Deutsche Bank Stock Closes 95% Down From ATH, but Bitcoin’s the Fraud?

Shares of Deutsche Bank (NYSE: DB), Germany’s largest bank, closed just above $7 on Friday. The price is more than 95% from the stock’s all-time high (ATH) over $155 in the summer of 2007, making Bitcoin look like an attractive alternative.

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SolarisBank Will Provide Custodial Digital Asset Services in Germany

Some surprising cryptocurrency news has come out of Germany this week. It now appears banks in the country prepare to embrace digital assets in every way possible. The first bank openly pledging support is SolarisBank.

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Germany’s Commerzbank Conducts First DLT-Powered Machine to Machine Payment

Commerzbank, a Germany-based international commercial bank with a presence in more than 50 countries, has collaborated with Daimler Trucks to conduct Germany’s first distributed ledger technology (DLT) powered machine-to-machine (M2M) payment, according to a press release on August 8, 2019.

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Crypto Banking Startup Bitwala Gets $14.5 Million USD Led by Sony Financial Ventures, NKB Group

Bitwala, a Bitcoin bank based in Germany, has recently announced that it was able to get $13 million EUR during its most recent funding round. The investments were led by Sony Financial Ventures, a Sony subsidiary, along with NKB GRoup and Global Brain.

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German Central Bank Tells Why Governments Should Take A Neutral Position On Facebook’s Crypto Project

The central bank of Germany, the Bundesbank, released a bulletin in which they say that Libra’s benefits should be allowed despite regulatory uncertainty. The bulletin was titled Crypto tokens in payment transactions and in securities settlement and it was published on July 22nd, according to Cointelegraph.

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German Central Bank President Sees Hope For Libra

During the G7 meeting in France last week, Jens Weidmann, president of Bundesbank, Germany's central bank, came out in favor of Facebook's Libra project, noting that regulators should not work to suppress innovation before clarifying details can be provided.

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Libra Is An “Innovative Concept” And Should Not Be Suppressed: Germany’s Central Bank Head

Jens Weidmann, the President of Germany’s Central Bank Bundesbank, stated that global regulators should not suppress Facebook’s Libra project in its early stages. The statement appeared in an email newsletter shared by Mati Greenspan, a senior marketing analyst at eToro.

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German Central Bank Chief Snubs Bitcoin Skeptic Trump, Supports Libra

According to Mati Greenspan, Libra has garnered some support at long last, and from an unlikely figure no less. Citing a recent article, which he translated via Google, the eToro analyst noted that the President of the Bundesbank, the central bank of Germany, lauded the Facebook-backed crypto project.

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Spanish police arrest Bitcoin launderers in international credit card fraud case

Spanish police have arrested 35 people allegedly involved in an international counterfeit bank card ring which laundered its profits using Bitcoin. Criminals made more than $675,855 (€600,000) and laundered more than $891,250 (€1,000,000), according to local media reports.

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German Central Bank Chief Pours Cold Water on Digital Currencies

By CCN: Deutsche Bundesbank president Jens Weidmann has added a dampener to discussions on central bank digital currencies (CBDC), claiming they would destabilize financial systems and worsen bank runs.

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Bundesbank Chief Warns on Risks of Central Bank Digital Currencies

The head of Germany's central bank has said central bank digital currencies could destabilize financial systems and worsen bank runs.

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We Should Focus on Tokenizing Real Assets Says Germany’s Central Banker

Burkhard Balz, a German politician who is now member of the board of the German central bank, Bundesbank, has argued blockchain tech really adds value when tokenizing real assets. “This...

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Buy Failing Deutsche Bank With Bitcoin, Suggests Fund Manager

Frankfurt-based multinational investment bank Deutsche Bank has seen its stock price decline over the past five years with no signs of revival. Popular cryptocurrency fund manager Anthony Pompliano says that it would be interesting if people put their bitcoin together and bought it out.

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Germany’s Central Bank: Blockchain Settlement Pilot Project Was Slow and Expensive

Jens Weidmann, the president of Deutsche Bundesbank, the central bank of Germany, said a blockchain trial project used for the transfer and settlement of securities and cash proved slower and more costly than the current traditional methods, Bloomberg reported on May 29.

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Bundesbank Ridicules Blockchain: Not a ‘Breakthrough’ Technology

By CCN: The president of Bundesbank – Germany’s central bank –  is not impressed by blockchain, despite the technology experiencing increased adoption in other sectors. German Central Bank: Blockchain Slow & Expensive According to statements made in Frankfurt on May 29, Bundesbank President Jens Weidmann claimed that a trial project to integrate blockchain failed miserably.

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Weidman, President Of German Central Bank: “Blockchain Settlement Was Slow, Costly In Trial”

Weidman – President Of German Central Bank: “Blockchain Settlement Was Slow, Costly In Trial” According to the president of Germany's Central Bank – Jan Weidman –  the recent performance of a trial project which made use of blockchain technology in order to provide an alternative transfer and settlement solution for securities and cash demonstrated that […]

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President of Germany’s Central Bank Warns of Serious Outcomes of Digital Currencies

The president of Germany’s central bank has warned about the potential risks of introducing digital currencies

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Nimiq Acquires 9.9% Stake in Germany's WEG AG to Become Bank's Third Crypto Firm Owner

Browser-based blockchain payments system Nimiq acquired a 9.9 percent stake in Germany’s WEG Bank AG, joining existing shareholders TokenPay and the Litecoin Foundation

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A Small Bank in Germany Is Now Nearly 30% Owned by Crypto Companies

The blockchain startup Nimiq has just joined the ranks of WEG Bank AG shareholders like TokenPay and the Litecoin Foundation.

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Association Of German Private Banks (Bankenverband): New Regulation For Crypto Securities Needed

German Bank Association Believes That A New Regulation For Crypto Securities May Be Needed The whole world is currently discussing the blockchain technology now. Because this new technology is so disruptive, some changes have to be made in order to accommodate it.

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Bitbond partners with solarisBank for Germany’s first Security Token Offering

CryptoNinjas For its upcoming Security Token Offering (STO), global SME lending platform Bitbond today announced a partnership with solarisBank, the Berlin-based technology platform with a banking license.

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Blockchain Settlement Trial Deemed A Success With Germany’s Deutsche Bank And Commerzbank

Blockchain Settlement Trial Deemed A Success With German Banks Blockchain technology has been making its way through the fintech world, but most banks have to complete trials to see exactly how it would function with their needs.

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Failing Deutsche Bank Lost $1.6 Billion, Conspired to Hide Bond Bet Gone Wrong

Germany’s largest lender Deutsche Bank is in the news again for the wrong reasons. According to the Wall Street Journal, Deutsche Bank lost approximately $1. 6 billion over a decade in a bond bet gone awry.

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Bitwala Is Offering German Citizens Joint Crypto and Fiat Banking Accounts

German blockchain startup Bitwala has launched crypto banking in Germany. After securing €4 million (roughly $4. 5 million) from VC firms Earlybird and Coparion in September of 2018 to develop a crypto banking solution, the company has allegedly amassed a waiting list of 30,000 potential users.

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Bitwala Begins Offering Bank Accounts With Bitcoin Wallet and Debit Card

Cryptocurrency banking provider Bitwala has started offering its banking service to cryptocurrency users in Germany, starting with 40,000 pre-registered customers. A spokesperson for the company has shared details with news.

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First Bitcoin ATM Installed in ECB’s Own Backyard

Germany has just got its second Bitcoin ATM in Frankfurt, home of the European Central Bank, as the total worldwide machine count hits 4000 for the first time. Bitcoin ATM Arrives in Frankfurt As local media reported November 23, Bitcoin-Store Frankfurt in Germany’s financial center and home of the European Central Bank (ECB) is now home to one of only two BTMs currently operational in the country.

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The Only Regulated Bitcoin Exchange in Germany Will Become A Bank in 2019

The operator of Germany’s only regulated cryptocurrency exchange has confirmed it will de facto become a bank after securing a 100 percent takeover of Tremmel Wertpapierhandelsbank. Bitcoin. de Buys Tremmel Wertpapierhandelsbank Bitcoin Group SE, which operates Bitcoin.

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