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DZ Bank Launches Blockchain-Based Digital Custody Platform for Corporate Customers

Germany’s third-largest bank, DZ Bank, has announced the launch of a blockchain-based digital custody platform that allows its corporate customers to invest in cryptocurrencies. DZ Bank also stated that it has developed services for individual customers to invest directly in cryptocurrencies. The bank has hired dozens of new employees in the areas of IT, operations, and compliance to operate the new custody solution. The German banking giant, which started building a digital custody platform for its corporate customers in 2022, initially focused on crypto securities. This includes Siemens’ crypto bond, which Union Investment and DZ Bank subscribed to six months ago and is now under the bank’s supervision.

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