Commerzbank scores crypto custody license in Germany

Commerzbank is the latest German bank to get the nod of approval for crypto custody services

article-image

MDart10/Shutterstock modified by Blockworks

share

German bank Commerzbank is the first “full-service bank” to receive a crypto custody license, according to a press release on Wednesday.

The bank was granted the license under the German Banking Act (KWG). 

Commerzbank can now offer digital asset services, and the bank plans to “establish a secure and reliable platform with full regulatory compliance to support its institutional clients by providing custody for crypto assets based on blockchain technology.”

“We have achieved an important milestone. This highlights our ongoing commitment to applying the latest technologies and innovations, and it forms the foundation for supporting our customers in the areas of digital assets,” said Jörg Oliveri del Castillo-Schulz, chief operating officer of Commerzbank.

Commerzbank first revealed its interest in crypto services back in April of 2022. It applied for a license with BaFin back in January of last year.

While Commerzbank is the first, it’s not the only bank in Germany interested in crypto custody. Back in September, Deutsche Bank’s Paul Maley told Blockworks that it wants to offer corporate and institutional clients custody of “selected cryptocurrencies and some stablecoins.”

It partnered with Swiss crypto firm Taurus to provide custody and tokenization services for institutional clients.

Deutsche Bank applied to provide crypto custody services with the German financial regulator back in June.

BaFin also granted crypto custody firm BitGo a license earlier this month, with BitGo’s Matt Ballensweig telling Blockworks that the firm moving forward is seeking to “broaden our reach into different segments of the market.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Hilton Park Lane

Tues - Wed, November 10 - 11, 2026

DAS London is a two-day summit at the Hilton Park Lane in London featuring conversations between the builders, allocators, and policy makers who are shaping the trajectory of the digital asset ecosystem in the UK, Europe, and North America.

Marina Bay Sands Singapore

Wednesday, October 07, 2026

DAS Asia is a a single-day summit at Marina Bay Sands Singapore featuring conversations between the builders, investors, and global leaders are shaping the trajectory of the digital asset ecosystem in Asia & North America.

recent research

Hyperliquid Purple (4).jpg

Research

HIP-3 has successfully scaled market creation on Hyperliquid, but it has not yet created a sustainable competitive deployer layer. Growth mode, USDH depreciation, high auction costs, and the 500K HYPE stake have made the model increasingly difficult for non-TradeXYZ deployers, leaving market creation concentrated around one clear outlier. We look at why deployer participation has slowed, what that means for HIP-3’s long-term design, and how tiered exchanges or temporary auction-fee relief could make smaller and more niche markets economically viable.

Newsletter

The Breakdown

Decoding crypto and the markets. Daily, with Byron Gilliam.

Blockworks Research

Unlock crypto's most powerful research platform.

Our research packs a punch and gives you actionable takeaways for each topic.

SubscribeGet in touch

Blockworks Inc.

133 W 19th St., New York, NY 10011

Blockworks Network

NewsPodcastsNewslettersEventsRoundtablesAnalytics