- The German bank DZ Bank will launch a pilot project for working with digital assets.
- The service will allow other banks to offer cryptocurrency trading to retail clients.
A large banking group, DZ Bank Group, plans to launch a pilot project for cryptocurrency trading in 2024. This is reported by Bloomberg with reference to data from a bank representative.
As Suad Benkredda, member of the board of DZ Bank Group, noted, the financial group wants to make a number of digital assets available to retail clients:
“Within the year, we will enter a pilot phase of retail cryptocurrency trading with the first cooperative banks. They will be able to test this process with their clients.”
The previously outlined partnership plan with DWP Bank has changed. Meanwhile, the bank representative did not disclose the name of the new project partner. DZ Bank is expected to offer digital asset trading without the need for additional approvals or guidelines.
“According to the auditing firm Genoverband, every second bank would like to offer such a solution to its clients,” Bencredda said.
According to information on the official website, DZ Bank manages assets amounting to €627 billion. In November 2023, the bank announced the launch of a platform for storing digital assets.
It was previously reported that DWP Bank introduced a service for trading Bitcoin. Additionally, in September 2023, Deutsche Bank offered a cryptocurrency custody service in partnership with Taurus.