Bankbanks germanyBitcoin.comcrypto buyersCrypto custody servicescrypto germanyEuropeFinanceGerman bankGermany

German Bank Donner & Reuschel to Offer Crypto Custody Services in Response to a ‘High Market Demand’ in the Country

Cryptocurrency adoption among the traditional banking industry keeps spreading across the board, and it has arrived at a bank based in Hamburg, Germany. Donner & Reuschel is set to make its inception into the crypto business by offering related custody services.
Bank Will Also Explore Further Blockchain Projects
According to the local magazine Asscompact, the Hamburg-based private bank will offer crypto buying and custodial services. Although Donner & Reuschel didn’t provide an exact date of the launch, they are expecting to deliver the products “as soon as possible.”
Marcus Vitt, a spokesman of the bank, argued that the decision to enter the crypto business is tied to the surge of interest towards the digital assets:
We have been observing the digital assets market for quite some time and are convinced of the potential of blockchain technology also concerning classic securities transactions.
Donner & Reuschel is a subsidiary of Signal Iduna, a group that offers insurance and financial services based in Dortmund. Moreover, Vitt stated a high demand for crypto custody services is trending in Germany, and the bank doesn’t want to lag behind the trend.
The bank’s spokesman added:
Blockchain technology will result in the greatest structural change in the financial industry that I have been able to experience so far in my 20-year banking career.
The German bank, founded in 1798 and with subsidiaries in Luxembourg, also hinted at exploring further blockchain projects. In fact, the local magazine pointed out that Donner & Reuschel is already analyzing some projects, such as …
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