DZ Bank, Germany's second-largest bank, plans to launch a cryptocurrency trading pilot program later this year, Bloomberg reported.
“According to a study conducted by Genoverband, every second bank wants to offer this solution to its customers,” Ben Gurayda said. “Ultimately, each institute makes the decision independently.” Genoverband is an audit and consulting association for more than 2,500 cooperative organizations.
The Frankfurt-based bank, which has $627 billion in assets under management, released a cryptocurrency custody platform in November. The release came months after it announced that it would use Metaco's technology solution to build cryptocurrency-related services.
DZ's foray into Bitcoin (BTC) trading comes alongside global adoption of cryptocurrencies among institutions, with the likes of BlackRock and Fidelity gaining approval for their exchange-traded fund (ETF) applications in the US last month, paving the way for billions of dollars. of trading volume.
