$377 billion German asset manager DekaBank launches crypto trading and custody services for institutional clients

DekaBank, a Frankfurt-based investment bank, has officially launched crypto trading and custody services for its institutional clients only. 

The rest of the world appears to be following the United States’ lead after it set the tone for a crypto-forward 2025. The Trump administration has continued to embrace cryptocurrency and is creating a favorable regulatory environment for crypto companies. As a result, financial institutions across the world are now looking to hop on the digital asset train. 

The latest is DekaBank, a leading German investment bank managing assets worth approximately €377 billion, has officially launched cryptocurrency trading and custody services tailored for institutional clients.

Before the Trump pro-cryptocurrency run, Germany had already laid some groundwork for crypto regulation. Back in 2013, the country became one of the first to recognize cryptocurrencies as financial assets. Then, in 2020, it made BaFin licensing mandatory for all crypto exchanges.

DekaBank now offers crypto services 

The recently announced launch is the result of DekaBank’s meticulous planning and development over the span of two years. 

In December of 2024, the bank secured a crypto custody license from Germany’s Federal Financial Supervisory Authority (BaFin) and the European Central Bank (ECB) under the German Banking Act (KWG). This licensure authorizes DekaBank to offer comprehensive crypto custody services, ensuring that institutional clients can securely store and manage their digital assets within a regulated framework.

In July of 2024, the bank received a license as a crypto securities registrar for the German issuance of DLT-based digital securities. 

DekaBank is also not new to the digital asset space. In fact, the bank is a very active member of the community. DekaBank is the founder of SWIAT, the blockchain platform for digital securities and has notable names like Standard Chartered and LBBW as investors. 

Commerzbank was the first German bank to receive a crypto custody license from BaFin and the European Central Bank and DekaBank followed suit not long after. 

The bank’s services are exclusively for institutional investors 

Private buyers are explicitly excluded from DekaBank’s crypto offerings. Bloomberg reports that DekaBank is exclusively offering its crypto services to institutional investors as they have the necessary know-how, resources and infrastructure to professionally manage risks from crypto investments. 

A board member of DekaBank explained the bank’s position, saying, “We have the necessary experience, the necessary licenses as well as a tested and ready-to-use infrastructure to accompany savings banks and our other institutional customers.”

Other companies from the Sparkassen-Finanzgruppe, the savings bank finance group to which DekaBank belongs, also offer institutional customers access to cryptocurrencies. 

Landesbank Baden-Württemberg (LBBW) has teamed up with Bitpanda to give their corporate clients access to a platform for the custody, buying, and trading of cryptocurrencies. 

Cooperative banks, Volksbanks and Raiffeisenbanks, under the leadership of DZ bank are in the process of developing their crypto services. They intend to launch officially by mid-year, offering crypto services to private customers. The initiative is being launched alongside IT service provider Atruvia and the Stuttgart Stock Exchange for the German Geno primary banks. 

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