ChainCatcher news, according to Ledger Insights, German DekaBank has obtained a cryptocurrency custody license issued by the country's regulatory authority BaFin and the European Central Bank (ECB). German commercial bank (Commerzbank) was the first German bank to obtain a license last year, while other major banks have yet to receive licenses, including DZ Bank.
BaFin has issued an additional 11 cryptocurrency custody licenses, primarily targeting cryptocurrency companies. One of them is the digital asset custody subsidiary of Hauck Aufhäuser Lampe Privatbank.
The difference between DekaBank and German commercial banks 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 DLT-based digital securities in Germany. These crypto securities can be issued without a central securities depository (CSD).