{"id":63789,"date":"2023-11-07T03:06:36","date_gmt":"2023-11-07T07:06:36","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=63789"},"modified":"2023-11-07T03:07:51","modified_gmt":"2023-11-07T07:07:51","slug":"dz-bank-launches-digital-asset-custody-platform","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/dz-bank-launches-digital-asset-custody-platform\/","title":{"rendered":"DZ Bank Launches Digital Asset Custody Platform"},"content":{"rendered":"\n

Germany's DZ Bank AG has unveiled a blockchain-based platform<\/a> for digital assets processing and custody, including Siemens' crypto bond. <\/p>\n\n\n\n

\"DZ
DZ Bank Launches Digital Asset Custody Platform<\/figcaption><\/figure>\n\n\n\n

DZ Bank, Germany's second-biggest bank, has introduced a unique service aimed at institutional customers for protecting cryptocurrency holdings. The blockchain company Ripple's Metaco Harmonize platform will be utilized to its full potential by this service.<\/p>\n\n\n\n

This action represents a combination of blockchain technology and traditional banking in Germany. The alliance also represents a success for Ripple since traditional banking is increasingly integrating blockchain technology<\/a>. <\/p>\n\n\n\n

Since the SEC dismissed its lengthy litigation against the company last week, Ripple has been on a tear, and in the last two weeks, XRP has increased by more than 33%. <\/p>\n\n\n\n

With Bitcoin being mentioned as a prime example, DZ Bank is actively growing its services to eventually allow individual and institutional clients to purchase digital currencies directly. <\/p>\n\n\n\n

Midway through 2023, DZ Bank applied to BaFin, Germany's financial watchdog, for a cryptocurrency custody license<\/a> in order to obtain regulatory permission for this development.<\/p>\n\n\n\n

This move is a part of a wider pattern among German banks, which are adjusting to the nation's strict regulatory environment while seeing a rise in interest in virtual currencies. <\/p>\n\n\n\n

The pace of work to incorporate cryptocurrency into traditional financial services is quickening. Due to the recognition of Germany as a vital hub for web3 talent by prominent exchanges such as Coinbase, the nation's blockchain funding has surged by 3% this year. <\/p>\n\n\n\n

With the launch of wpNex, a digital asset trading platform, earlier in the year, Deutsche WertpapierServiceBank\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> made a huge step forward by giving more than a thousand German banks access to the cryptocurrency space. <\/p>\n\n\n\n

Furthermore, DWS Group\u2014of which Deutsche Bank owns a majority stake\u2014has disclosed its plans to provide cryptocurrency-related exchange-traded products in Europe. <\/p>\n","protected":false},"excerpt":{"rendered":"

Germany’s DZ Bank AG has unveiled a blockchain-based platform for digital assets processing and custody, including Siemens’ crypto bond. DZ Bank, Germany’s second-biggest bank, has introduced a unique service aimed at institutional customers for protecting cryptocurrency holdings. The blockchain company Ripple’s Metaco Harmonize platform will be utilized to its full potential by this service. This […]<\/p>\n","protected":false},"author":43,"featured_media":63791,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[17095,13455],"class_list":["post-63789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-digital-asset-custody-platform","tag-dz-bank"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/11\/croc_1699339392776.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/63789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=63789"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/63789\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/63791"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=63789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=63789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=63789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}