Thu, September 19, 2024 at 12:12

• 

  Kang-hoon

  • Hello, Annie.

  • Today, I have some exciting news about Commerzbank in Germany.

  • They are set to launch Bitcoin and Ethereum trading services for their customers.

  • 
• Annie

  • Oh, really?

  • That's interesting!😊 How are they planning to do this?

  
• 

  Kang-hoon

  • Commerzbank has partnered with Crypto Finance, a subsidiary of Deutsche Börse, to offer these crypto trading services.

  • This partnership will initially provide Bitcoin and Ethereum exposure to selected existing corporate clients in Germany.

• Annie

  • Wow, that sounds like a significant move.

  • How will this partnership work?

  
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• 

  Kang-hoon

  • Indeed, Annie.

  • Commerzbank will manage the custody of these assets, ensuring they are securely stored, while Crypto Finance will handle the secure and seamless trading of these assets.

• Annie

  • That's a smart division of responsibilities.

  • But why is this collaboration important?

  
• 

  Kang-hoon

  • This collaboration aims to provide Commerzbank's corporate clients with seamless and secure access to crypto assets without needing to forgo established and regulated structures and partners.

  • It’s a significant step towards institutional crypto adoption.

• Annie

  • I see.

  • Has Commerzbank been involved in the crypto space before?

  
• 

  Kang-hoon

  • Yes, they have.

  • In November 2023, Commerzbank became the first German universal bank to obtain a crypto custody license.

  • This allows them to offer several digital asset-related services, including crypto assets custody.

• Annie

  • That's impressive!

  • And what about Crypto Finance?

  • What's their background?

  
• 

  Kang-hoon

  • Crypto Finance has been in the digital assets sector since 2017, providing regulated and secure trading and custody services.

  • They recently expanded their presence to Germany and have already gained the licenses to offer crypto services to all institutional clients in the country.

• Annie

  • So, both companies have a strong foundation in the crypto space.

  • What did Commerzbank's senior executive say about this partnership?

  
• 

  Kang-hoon

  • Gernot Kleckner, a senior executive at Commerzbank, explained that this partnership will allow their corporate clients to seize the opportunities presented by Bitcoin and Ethereum for the first time.

  • He assured that both firms would offer a joint solution that represents the highest level of security in trading and custody of crypto assets.

• Annie

  • That sounds promising.

  • What about the CEO of Crypto Finance?

  • What did he say?

  
• 

  Kang-hoon

  • Stijn Vander Straeten, the CEO of Crypto Finance, stated that the partnership is an important milestone, enabling them to offer regulated crypto services to more German companies and institutions.

  • He emphasized their commitment to providing secure digital asset solutions across Europe.

• Annie

  • It seems like a big step for both companies.

  • How do you think this will impact the market?

  
• 

  Kang-hoon

  • This partnership will undoubtedly help boost institutional crypto adoption.

  • Interestingly, Binance CEO Richard Teng recently mentioned that institutional allocation to crypto so far is just the tip of the iceberg, suggesting that there will be an influx of institutional investors soon enough.

• Annie

  • So, do you think this news is a positive development for the market?

  
• 

  Kang-hoon

  • Absolutely, Annie.

  • This is definitely a positive development.

  • 

  • It signifies growing confidence in crypto assets among institutional investors, which could lead to increased market stability and growth.

  • Upon comprehensive consideration, this news is perceived as a 😍Bullish.