![Commerzbank Commerzbank building in Dusseldorf, Germany](https://coingeek.com/wp-content/uploads/2023/11/Commerzbank-380x188.webp)
Commerzbank secures digital asset custody license in Germany
Commerzbank’s foray into digital currencies may increase adoption, given that it has nearly 11 million small-business and private customers in Germany and 30% foreign trade transactions.
Commerzbank’s foray into digital currencies may increase adoption, given that it has nearly 11 million small-business and private customers in Germany and 30% foreign trade transactions.
In an effort to build an intuitive payments ecosystem, Germany's four major banks embarked on a study that would see them settling transactions using "deposit tokens" minted on a blockchain.
If approved, Commerzbank, which has over 18 million customers and around 70,000 institutional clients, aims to serve as a digital currency exchange by offering custody and trading services.
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Commerzbank believes its created the best automated lorry payment system in the world.
Deutsche Börse and Commerzbank have successfully completed the first-ever proof-of-concept (POC) for a repo transaction using the blockchain.