Cryptocurrencies have been gaining global attention recently. With greater adoption on the books, banks across the country have begun offering cryptocurrency services to their clients. This is mainly due to the increased demand from customers. Thus, banks have begun incorporating digital assets into traditional finance.
Now, according to the latest report from CoinDesk, German banking giant DekaBank has also planned to offer cryptocurrency services to its customers.
DekaBank to offer digital asset services to over 1.5 million clients
DekaBank, with over $390 billion in asset management, is reportedly joining Societe Generele and Citibank to develop cryptocurrency offerings to its institutional clients. The banking giant will utilize custody tech from the Swiss company once the approval is received. For orchestration, the bank will seek help from Harmonize for asset management operations and asset management.
“Digital assets are a critical part of the future, a radical new way for how assets will be represented, from currencies to real estate. Today we make another important step towards laying the foundation for giving our institutional investors and millions of people in Germany access to this transformational opportunity,” said Andreas Sack, DekaBank’s product owner.
Read more: Dogecoin Surges Post Elon Musk’s Twitter Entering US Payment Business
With the rising cryptocurrency adoption, major traditional banks are likely to join the bandwagon.