DekaBank has been granted a cryptocurrency custody license by BaFin and the European Central Bank

ChainCatcher news, according to Ledger Insights, Germany's DekaBank has obtained a cryptocurrency custody license from the country's regulatory authority BaFin and the European Central Bank (ECB). Commerzbank was the first German bank to receive a license last year, while other major banks, including DZ Bank, have yet to obtain one.

BaFin has issued an additional 11 cryptocurrency custody licenses, primarily targeting cryptocurrency companies. One of these is the digital asset custody subsidiary of Hauck Aufhäuser Lampe Privatbank.

The difference between DekaBank and Commerzbank in relation to cryptocurrency companies is that the former is licensed under the Banking Act (KWG). This is the second new license DekaBank has obtained this year. In July, the company received a license as a crypto securities registrar for issuing digital securities based on DLT in Germany. These crypto securities can be issued without the need for a central securities depository (CSD).