German bank DekaBank has announced the launch of crypto buying, selling, storage, and management services for institutional investors. According to Bloomberg, these crypto services are exclusively available to institutional investors, excluding individual investors.

The Sparkassen group, of which DekaBank is also a member, is still evaluating its approach to crypto trading for private clients. With its crypto storage license from the European Central Bank and Germany’s financial regulator BaFin, the bank positions itself as a secure option for institutional clients. DekaBank Board Member Martin K. Müller stated that the bank has the necessary experience, licenses, and ready-to-use infrastructure. Other banks in the Sparkassen group are also planning to enter the institutional crypto market in a similar manner. For instance, LBBW recently announced a partnership with crypto exchange Bitpanda to provide a platform for crypto storage and trading for institutional clients. However, their stance towards retail investors remains uncertain. The sector, although it has previously shied away from such offerings, is currently reassessing its position. According to Bloomberg, cooperative banks in Germany, led by DZ Bank, are planning to offer crypto services to all retail customers towards the summer months.

DekaBank highlights that institutional investors can professionally manage risks in crypto investments and that this area offers strategic opportunities. The bank emphasizes the importance of crypto investments for portfolio diversification, underlining that this new service will provide significant advantage to institutional clients.