The second largest bank in Germany will offer cryptocurrency custody services.

DZ Bank, in cooperation with several other companies, will provide the opportunity to store cryptocurrencies for institutional clients.

As of the end of 2022, the bank had under its management nearly $300 billion, which speaks of it as a fairly large player. The bank connected with the Swiss company Metaco and the Harmonize platform.

In turn, Nils Christopeit, the lead developer of DZ Bank's digital custodial solutions, commented on this decision:

"In terms of security, scalability, and future requirements of our initiative to store digital assets for institutional clients, starting with crypto securities in accordance with German eWpG law, Metaco Harmonize proved to be a powerful solution that aligns with our goal and can support our intended operating model."

For the Swiss company Metaco, this is not the first time they have collaborated to support various digital assets. Among them have already been Citibank, Societe Generale, and Frankfurt's DekaBank. With the latter, Metaco is launching a blockchain-based tokenization platform.

There is a clear trend that companies and banks want to offer crypto storage services specifically for institutions, i.e., those who collect money from smaller market players or ordinary people and build up this capital, in very simple terms.

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