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 <p class="is-style-lead">DZ Bank launches a <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a>-based digital asset <a rel="noopener noreferrer nofollow" title="custody" href="https://thebittimes.com/tag/custody.html">custody</a> platform, advancing Germany’s crypto <a rel="noopener noreferrer nofollow" title="service" href="https://thebittimes.com/tag/service.html">service</a>s for institutional and private clients.</p>
 <p>The second largest bank in Germany, DZ Bank, has unveiled a proprietary service for safeguarding crypto assets, targeting institutional clientele. This service will leverage the capabilities of Metaco Harmonize, a platform developed by the blockchain firm Ripple.</p>
 <p>The move signifies a merger of conventional banking and <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a> in Germany.<br><br>The partnership also signifies an achievement for Ripple, as the <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a>’s integration across traditional banking continues to grow. Ripple has been on a hot streak since last week, after the SEC dropped its long-lasting lawsuit against the firm, and XRP has rallied over 33% in a fortnight.&nbsp;</p>
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 <h2 class="wp-block-heading" id="germany-s-growing-crypto-and-blockchain-adoption">Germany’s growing crypto and blockchain adoption</h2>
 <p>DZ Bank is actively expanding its <a rel="noopener noreferrer nofollow" title="service" href="https://thebittimes.com/tag/service.html">service</a>s to eventually enable individual and institutional clients to purchase digital currencies directly, with Bitcoin cited as a prime example. In preparation for this expansion, DZ Bank sought regulatory approval in mid-2023, submitting an application for a cryptocurrency <a rel="noopener noreferrer nofollow" title="custody" href="https://thebittimes.com/tag/custody.html">custody</a> license to BaFin, Germany’s finance watchdog.</p>
 <p>This development is part of a larger trend among German banking institutions, adapting to a growing interest in digital currencies despite the country’s stringent regulatory landscape. Efforts to integrate cryptocurrencies into conventional financial services are accelerating. The country’s blockchain funding has increased by 3% this year, as major exchanges like Coinbase have recognized Germany as a key region for web3 talents.&nbsp;</p>
 <p>Earlier in the year, Deutsche WertpapierServiceBank made a significant leap by introducing wpNex, a trading platform for digital assets, providing a gateway for over a thousand German banks into the cryptocurrency industry. Additionally, DWS Group, with a controlling interest held by Deutsche Bank, has made public its initiatives towards launching crypto-related exchange-traded products in Europe.&nbsp;</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/dz-bank-partners-with-ripple-to-launch-blockchain-custody-service-tbt69257.html">https://thebittimes.com/dz-bank-partners-with-ripple-to-launch-blockchain-custody-service-tbt69257.html</a></p>

DZ Bank partners with Ripple to launch blockchain custody service

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