DZ BANK, Germany’s largest depository bank with over €350 billion in assets under custody as of August 2024, has launched its much-awaited institutional digital asset custody platform. This puts the bank at the forefront of Germany’s digital asset revolution, marking a key milestone in embracing blockchain technology and digital transformation.
Developed by DZ BANK in collaboration with Ripple, the world leader in blockchain-based solutions, the new, state-of-the-art custody platform helps optimize the management, settlement, and security of digital assets. This is one of the first of its kind in Germany, offering digital asset solutions specifically for institutional users, focusing primarily on crypto securities in line with German securities law.
The digital custody platform is in seamless integration with traditional capital market processes, creating a secure and efficient solution for digital assets. In this regard, it uses blockchain to provide secure transaction and wallet management, which the institutional investor was concerned about and wanted to eradicate.
This is the dawn of a new era in asset management, said a DZ BANK representative. “we are very proud that we were one of the first banks in Germany that really built and made their digital custody platform go live. We can serve our clients, dealing with settlement and custody of digital assets, focusing on crypto securities according to the German securities law.”
Ripple supports the platform to offer faster, more cost-effective transactions for asset managers, handling the complexities of digital asset custody through a transparent and efficient tool. With the continued growth in demand for crypto securities, DZ BANK’s platform ensures full regulatory compliance while opening up new opportunities in the digital economy.
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