German Bank DekaBank Launches a Crypto Custody Service

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German bank DekaBank has recently teamed up with Metaco to use its Harmonize product as its primary platform for storing and managing institutional clients’ digital assets.

DekaBank is the leading provider of securities services and capital market solutions for the German public savings bank group.

Harmonize allows users to run comprehensive banking offerings and provides institutional-grade security standards, according to a press release.

In order to promote cryptocurrencies, DekaBank will need to obtain a BaFin license.

Other institutions, including Societe Generale, BBVA, DBS, Citigroup, UnionBank and BNP Paribas, have previously chosen the same platform to launch a digital asset storage service.