Germany’s DZ Bank to run crypto trading trial in 2024

DZ Bank, Germany’s second-largest financial institution, plans to launch a cryptocurrency trading pilot.

Souad Benkredda, a board member at DZ Bank, stated that the Frankfurt-based bank aims to offer a variety of cryptocurrencies. The initiative is designed for customers who prefer to invest independently without seeking financial advice.

“According to a study by the Genoverband, every second bank wants to offer this solution for their customers.”

Souad Benkredda in an interview with Bloomberg

However, Benkredda noted that the decision to adopt such a service ultimately rests with each individual institution. Genoverband is a key auditing and consulting body for over 2,500 cooperative organizations.

With assets under management amounting to $627 billion, DZ Bank has already taken steps into cryptocurrency. In November, the bank launched a cryptocurrency custody platform with Ripple. This followed its announcement to utilize Metaco’s technology solution for developing crypto-related services.