Crypto Council For Innovation
Subscribe
No Result
View All Result
  • Home
  • About Us
    • Leadership
    • Membership
    • Careers
    • CCI News
    • Contact
    • Events
    • Press Releases
  • Analysis
    • All Analysis
    • Crypto in Action
    • News Analysis
    • Explainer
  • POSA
  • Comment Letters
  • Policy Briefs
  • Reports
  • Security
  • Financial Literacy
  • Policy
  • EU Elections
  • Crypto in Action
  • Explainer
    • Defi
    • NFTs
    • DAOs
    • Layer 1s
    • Layer 2s
    • Government
    • Infrastructure
  • Home
  • About Us
    • Leadership
    • Membership
    • Careers
    • CCI News
    • Contact
    • Events
    • Press Releases
  • Analysis
    • All Analysis
    • Crypto in Action
    • News Analysis
    • Explainer
  • POSA
  • Comment Letters
  • Policy Briefs
  • Reports
No Result
View All Result
Crypto Council For Innovation
No Result
View All Result

Home » Crypto Ushers in a New Era for German Banking

Crypto Ushers in a New Era for German Banking

byEmily Ekshian
October 17, 2024
in Crypto in Action
As we move through 2024, German banks are increasingly adopting crypto services, signaling a major shift in the financial landscape.

Summary:

  • German banks are increasingly integrating crypto services, responding to growing demand from institutional investors who view digital assets as essential components of diversified portfolios.
  • Germany’s financial regulator, BaFin, created a clear and secure framework for banks to offer crypto services, including crypto custody licenses.
  • Traditional banks, such as Commerzbank and DZ Bank, are collaborating with established crypto platforms to offer regulated and secure trading and custody services, allowing them to meet institutional client demands efficiently.
  • German banks are also exploring blockchain technology to streamline financial processes, with KfW issuing blockchain-based digital bonds, showcasing the potential of blockchain to improve security and efficiency in financial systems.
  • More crypto in action stories can be found here.

As we move through 2024, German banks are increasingly adopting crypto services, signaling a major shift in the financial landscape. What once seemed like a niche market for enthusiasts is now becoming part of mainstream German banking. The trend is clear: more and more institutional investors are seeking secure and regulated ways to engage with digital assets like Bitcoin and Ether. German banks are responding to this demand by integrating crypto services into their portfolios, aiming to bridge the gap between traditional finance and the burgeoning crypto economy.

Growing Demand for Institutional Crypto Services

A major driver of this shift is the increasing demand from institutional investors who see crypto as an essential part of a diversified investment strategy. As more corporations and investment firms look to gain exposure to digital assets, banks have begun offering secure, regulated platforms for trading and storing crypto. Institutional investors are increasingly viewing Bitcoin and Ether as long-term stores of value and hedges against inflation, making them vital components in modern investment portfolios.

For instance, Commerzbank is at the forefront of this movement. In September 2024, the bank announced a partnership with Crypto Finance, a subsidiary of Deutsche Börse, to offer Bitcoin and Ether trading to corporate clients​. By focusing on institutional clients rather than retail investors, Commerzbank is addressing the needs of companies looking for a compliant and reliable way to enter the crypto space. This service is particularly attractive for businesses seeking regulated custodial solutions and trading platforms, helping them navigate the complexities of crypto adoption while maintaining compliance with German and European financial regulations​.

Role of Regulatory Clarity

Germany’s regulatory body, BaFin, has played a crucial role in transforming the crypto landscape by providing clear guidelines that allow banks to securely and compliantly offer crypto services. In recent years, the German legislator introduced a crypto custody license implemented by BaFin introduced a crypto custody license that enables banks to manage and store digital assets on behalf of clients under stringent regulatory oversight. This framework was instrumental in encouraging traditional financial institutions to venture into the crypto space with the confidence that they can operate within a well-regulated environment, minimizing risks for both the banks and their clients.

Another prominent example of this is Deutsche Bank, which applied for its crypto custody license in 2023, marking its entry into the digital asset sector. By prioritizing custody, the bank is ensuring it has the necessary safeguards and infrastructure in place before offering broader crypto services, which reflects its commitment to institutional-grade security and regulatory compliance. This strategy also aligns with broader market trends, where institutions are increasingly expected to provide secure, compliant access to digital assets, especially as demand for institutional involvement in the crypto market continues to rise.

BaFin’s approach has not only fostered trust but also set a precedent for other European regulators, helping Germany emerge as a leading market for regulated institutional crypto services. The crypto custody license by BaFin will be modified (by Dec. 2024) according to MiCA requirements, because MiCA now contains the requirement to obtain a license as a crypto custodian. Germany’s introduction of such a license before it was officially mandated on EU level showed it is forward-thinking and gave it a leg up.

Traditional Banks Collaborate with Crypto Platforms

Another key trend is the partnerships between traditional banks and established crypto platforms. Rather than developing crypto infrastructure from scratch, many banks are choosing to collaborate with existing players in the crypto space. This allows for faster integration and ensures that the banks can offer cutting-edge services without compromising on security or compliance.

For example, DZ Bank partnered with Boerse Stuttgart Digital to launch crypto trading services for institutional clients​. By teaming up with a regulated exchange, DZ Bank was able to quickly provide clients with access to Bitcoin and Ethereum, ensuring a smooth and compliant entry into the market. These partnerships reflect a growing reliance on specialized crypto companies to help traditional banks meet the demand for digital assets. While most banks are starting with Bitcoin and Ether, there is a clear trend toward expanding offerings to include other crypto and digital assets. As demand grows, banks will likely introduce a broader range of crypto products, including stablecoins and decentralized finance services.

Members of the Crypto Council for Innovation, such as Coinbase and Fidelity Digital Assets, are playing an integral role in Germany’s shift towards integrating crypto services. Their focus on providing institutional-grade security and compliance ensures that German banks can confidently offer these services to corporate clients. This collaboration fosters a secure and regulated environment, further boosting Germany’s position as a leader in institutional crypto adoption. Andreessen Horowitz (a16z), another Crypto Council for Innovation member, has been investing in crypto infrastructure projects across Europe, including Germany. These projects aim to build blockchain technologies and enhance financial services, aligning with the growing institutional interest in the region.

Security and Compliance 

As banks integrate crypto into their services, they place a strong emphasis on security and compliance. Corporate and institutional clients are highly risk-averse, making it essential that banks offer regulated and secure platforms for crypto trading and custody.

Commerzbank’s solution reflects this priority by managing the custody of digital assets while Crypto Finance handles trading. The bank ensures a high level of security for its clients. This dual approach reassures institutional investors that they are operating within a safe and regulated environment​. 

Similarly, Deutsche Bank’s focus on custody services before launching full trading capabilities underscores the importance of building secure foundations before expanding into more complex services. N26, a digital-first bank, also emphasizes security by partnering with Bitpanda, an established crypto exchange, to allow its retail customers to trade crypto.

Blockchain Technology

In addition to offering crypto trading and custody, German banks are increasingly exploring the underlying blockchain technology that powers crypto. Blockchain’s potential to streamline financial processes is of great interest to banks looking to improve efficiencies and reduce costs.

For example, the state-owned bank KfW issued its first blockchain-based digital bond in July 2024 under the German Electronic Securities Act. This bond is part of KfW’s broader exploration of digital finance, leveraging blockchain technology to enhance transparency, security, and efficiency in the bond issuance process. The bond was launched using Boerse Stuttgart Digital as the infrastructure provider, which managed the technical aspects like secure wallet management and private key handling during the issuance and redemption processes

Blockchain could revolutionize everything from settlement systems to compliance procedures, offering faster, more secure alternatives to traditional systems. By investing in blockchain, these banks aim to future-proof their operations and capitalize on the evolving digital financial ecosystem.

Conclusion

The integration of crypto services by German banks reflects a shift in the country’s financial industry. Institutional adoption, regulatory clarity at national and EU levels, and strategic partnerships are driving this transformation, as banks like Commerzbank, Deutsche Bank, and DZ Bank lead the way by offering secure, regulated access to digital assets. The focus on security and compliance ensures that these services meet the high standards expected by corporate clients.

As demand for crypto continues to rise, and as blockchain technology evolves, we can expect further expansion of crypto offerings in Germany. Both institutional and retail investors are looking to trusted financial institutions to provide them with the tools they need to engage with the crypto economy safely.

Tags: BaFinblockchainBoerse Stuttgart DigitalcarouselCommerzbankcryptoCrypto in ActionCustodyDeutsche BörseDZ BankGerman BankingheroKfWNew EraPolicyregulationsSecurity and CompliancesuperTokenization
Tweet

Related Posts

Photo of public buildings in Almaty to illustrate story about crypto's development in Kazakhstan.
Crypto in Action

Kazakhstan Cautiously Develops Crypto Sector to Help Support Finance

June 3, 2025
Busy street scene in Phnom Penh used to illustrate article about crypto's development in Cambodia.
Crypto in Action

Cambodia’s Crypto Interest Reflects Wider Policy Changes to Financial System

May 23, 2025
Load More
Next Post
Inside the women-led evolution of financial influence

Inside the women-led evolution of financial influence

By Categories

  • CCI News
  • Comment Letters
  • Congressional Testimony
  • Crypto in Action
  • Data
  • Explainers
  • Letter
  • News Analysis
  • Pinned Event
  • Policy Briefs
  • Press Releases
  • Previous Events
  • Recent Coverage
  • Report
  • Uncategorized
  • Upcoming Events
  • About
  • Contact

© 2025 Crypto Council For Innovation.

No Result
View All Result
Subscribe
  • Home
  • About Us
    • Leadership
    • Membership
    • Careers
    • CCI News
    • Contact
    • Events
    • Press Release
    • Recent Coverage
  • Analysis
    • All Analysis
    • Crypto in Action
    • Explainer
      • All Explainers
      • DeFi
      • NFT
      • DAO
      • Layer 1s
      • Layer 2s
      • Government
      • Infrastructure
    • News Analysis
  • Recent Coverage
  • Comment Letters
  • Policy Briefs
  • Reports
  • Security
  • Financial Literacy
  • Policy
  • EU Elections
  • In Action
  • Explainer
    • All Explainers
    • DeFi
    • NFT
    • DAO
    • Layer 1s
    • Layer 2s
    • Government
    • Infrastructure

© 2025 Crypto Council For Innovation.

Saskia Seidel

Policy Fellow

Saskia Seidel is the Policy Fellow at CCI, conducting legal and policy analysis on crypto regulations and legislative developments across key jurisdictions. She examines bills and regulatory proposals as well as case decisions, providing insights into the evolving landscape of digital assets policy.

Saskia holds a Master of Laws in International Business and Economic Law from Georgetown University Law Center. Originally from Germany, she earned a Bachelor's degree in Law and Economics and passed the First German State Exam in Law to qualify in the legal system.

Before joining CCI, Saskia worked at various law firms specializing in corporate and international tax law, where she developed a strong understanding of how businesses navigate legal and regulatory challenges in a cross-border context and advising on complex legal matters.

Krisina Antonio

Office Manager / Administrative Assistant

Krisina Antonio is the Executive Assistant to the CEO and DC Office Manager at CCI. Prior to joining CCI, Krisina has led executive offices in education and finance. She also worked within the pro-sports sales and marketing space for teams within the NFL, MLS, and Minor League Baseball

Emily Ekshian

Communications Specialist

Emily Ekshian is the Communications Lead at CCI, working closely with the communications team on branding, marketing and publicity efforts. She holds a Master of Science in Journalism from Columbia University’s Graduate School of Journalism, with concentrations in Finance, Technology, and Human Rights.

She also earned a Bachelor of Arts in Political Economy and Media Studies, with a Minor in Human Rights, from the University of California, Berkeley. Emily is passionate about the intersection of blockchain, digital assets, and global policy, focusing on how emerging technologies can support climate resilience, financial inclusion, and freedom of expression.

Through her work, she explores the transformative potential of Web3 in addressing global challenges and advancing positive social impact.

Renee Barton

Director, Impact Research

Renée leads Impact Research at CCI, documenting real world Web3 use cases to create shared understandings of how Web3 technologies are shaping the future for people and communities. She has ten years of experience examining the policy, economic, and community development implications of technology deployments.

She previously led primary ethnographic research at the Crypto Research and Design Lab (CRADL), where her research helped policymakers and business leaders understand why people are turning to crypto through evidenced-based insights.

Prior to her work at CRADL, Renée advised public, private, non-profit, and philanthropic clients at the intersection of technology, economic development and community-building.

Giles Swan

European Public Police Advisor

Giles has been a regulator, policymaker, the policy lead of a major digital asset service provider and the global policy director of a leading investment fund trade association. Giles advises trade associations, investment funds and asset managers, and web3 and crypto firms, on public policy, licensing, regulation and advocacy. During his time as a policymaker,

Giles was a national expert on the Investment Management Standing Committee of the European Securities and Markets Authority’s (ESMA), a national representative on the Standing Committee on Investment Management of the International Organization of Securities Commissions (IOSCO) and a member of the European Union’s Council of Ministers Financial Services Working Party.

Giles holds a BA in Banking and Finance, first class, from London Guildhall University, an MSc in Finance and Investment from CASS Business School and professional certificates in teaching and learning, and blockchain strategy.

Peter Herzog

Associate Director, State Government Affairs

Peter Herzog is a dedicated government affairs professional, specializing in issues impacting emerging financial technologies. As the Associate Director of State and Local Government Affairs at the Crypto Council for Innovation, Peter oversees initiatives to advance responsible regulation for the digital asset industry across state and local governments.

He has developed a pragmatic approach to building relationships with key decision makers and navigating nuanced policy issues. Before joining CCI, Peter served on the government relations team at the digital mortgage startup Better.com, where he led the organization’s state government relations strategy. He began his career at the Health and Medicine Counsel, a boutique healthcare lobbying firm on Capitol Hill,

where he was one of the youngest registered lobbyists in Washington, DC. His former clients include patient advocacy organizations, trade societies, and pharmaceutical companies. Peter holds a Bachelor’s Degree in Government and International Politics from George Mason University.

Ryan Eagan

Associate Director, Federal Affairs

With nearly 10 years of experience working for Senate Majority Leader Charles E. Schumer, Ryan advised the Leader on a wide array of banking policies and housing priorities. He worked with members in the House and Senate and the relevant Committees to advance legislative priorities.

This includes federal responses to COVID such as the American Rescue Plan,statutory changes to securities law, ESG rulemaking, cryptocurrency policy, and certain appropriations topics.

He graduated Williams College with a BA in both Political Science and History.

Rashan Colbert

Director, U.S. Policy

Rashan A. Colbert is the US Policy Director for the Crypto Council for Innovation. A seasoned policy leader with extensive experience in government, politics, and the crypto industry, he has served as a senior legislative advisor in the U.S. Senate, led policy efforts for a cutting-edge DeFi protocol, and has amassed a high-powered network across the public and private sectors. As Head of Policy at dYdX Trading, Rashan took the firm’s advocacy strategy and effort from zero to one.

His work involved educating policymakers, advising company leadership on policy risks, and ensuring DeFi’s importance to the future of the United States was well understood in Washington. Before transitioning to the private sector, he spent seven years in Senator Cory Booker’s office, where he led on technology, telecommunications, and commerce issues, with work focused on AI, big tech, social media regulation, and digital assets.

As Booker’s lead staffer on crypto policy for the Senate Agriculture Committee, he developed a deep understanding of fi nancial regulation and the legislative vehicles that will be used to shape it.

Patrick Kirby

Policy Counsel

Patrick is joining CCI as Policy Counsel, and brings considerable experience engaging with policymakers on emerging technology and financial services issues. Before joining CCI, he worked as an attorney in the US Policy & Government Relations group at the law firms Dentons and Squire Patton Boggs.

In those roles, he advised domestic and international clients on a variety of legal, policy, and regulatory issues related to technology, financial services, and digital assets. He assisted clients in developing and executing government relations strategies to further their legislative and regulatory interests before Congress and the Executive Branch.

In prior roles, he served as a legal intern at the Financial Crimes Enforcement Network (FinCEN) and the Office of the Comptroller of the Currency (OCC).

Yele Bademosi

Africa Advisor

Yele Bademosi is the co-creator of Onboard, a community-first onchain neobank designed for creators and builders. Onboard's goal is to expand the onchain economy, making it accessible to anyone, anywhere, and empowering people to live radically better lives.

Throughout his career, Yele has invested in close to 100 startups globally, primarily in the financial services and onchain sectors. His purpose extends beyond geographical borders, aiming to leverage innovation, capital, and policy to create sustainable economic opportunities worldwide.

Sean Lee

Senior APAC Advisor

Sean is an advisor and entrepreneur in Web3 and FinTech, and has been frequently quoted in Reuters, Forbes, Bloomberg, CoinDesk, among others. Sean was previously the CEO of the Algorand Foundation, an MIT incubated Layer-1 blockchain protocol that reached top-10 by network valuation during his tenure.

He is currently leading the efforts at VSFG, a global financial services platform and the first licensed virtual asset manager in Hong Kong, to develop the regulated HKD stablecoin for programmable payment and cross border use cases across Asia and beyond. Before entering into crypto and blockchain, Sean spent 10 years and held global leadership positions in cloud computing and open source software development companies.

Sean also advises crypto startups and engages in mentorship and advocacy programs including the MIT Entrepreneurship & FinTech Innovation Node, the Chinese University of Hong Kong Business School, and the Hong Kong FinTech Association.

Matt Homer

Senior Advisor

Matthew Homer is the Founder & General Partner of The Venture Dept. Previously, he was an investor at Nyca Partners, a $1B+ AUM fintech VC firm, where he remains involved as an Operating Partner in an advisory capacity.

Before venture investing, he was Executive Deputy Superintendent at the New York State Department of Financial Services (NYDFS), where he oversaw the licensing and supervision of major digital asset firms, including some of the largest exchanges, custodians, and stablecoin issuers in the U.S.

Earlier in his career, he worked as a federal regulator at the FDIC, focusing on policy development and new technologies. Matt has also held operating roles in fintech startups, starting at Quovo and continuing at Plaid after its acquisition.

Laura Navaratnam

UK Policy Lead

Laura is a digital assets policy expert, and serves as the UK Policy Lead for CCI. Laura is a fintech policy expert, specializing in digital assets. Laura has worked in financial services policy for over 15 years. She worked at the UK Financial Conduct Authority for 7 years where she ultimately served as the Head of the FCA’s Innovate function,

which included all aspects of cryptoasset policy and fintech (sandbox, firm support, international engagement and strategy). She is also a Director at bespoke fintech consultancy Gattaca Horizons, supporting a broad range of US and UK based fintech clients and leveraging her experience to provide policy, regulatory and strategy advice.

She is also a Non-Executive Director for Zero Hash UK, a leading crypto-as-a-service provider.

Cameron Jones

Director, Strategic Initiatives

Cameron has over 30 years of experience in technology, philanthropy, and civil society sectors. She worked in the nonprofit and private sectors in the U.S., Europe, and Asia.

She developed and scaled strategic social good programs for leading tech companies, including Amazon, Microsoft, Adobe, Intuit, and VMware, leading the development of program delivery and marketing strategies.

At CCI she leads strategic initiatives, manages new partnerships and current members.

Amanda Russo

Director, Communications

She led C-suite media relations and content for IHS Markit research divisions across Europe, the Middle East and Africa. As a strategic communications advisor to CEOs, heads of state, and policymakers, Amanda worked on the World Economic Forum’s Public Engagement leadership team as Head of Media Content. Amanda started her career as a terrorism and intelligence analyst.

Yaya J. Fanusie

Director, Policy, AML & Cyber Risk

He spent seven years as an economic and counterterrorism analyst in the CIA, briefing federal law enforcement, military personnel, White House-level policy makers and the President. After government service, he joined the think tank world and as Director of Analysis at the Foundation for Defense of Democracies’ Center on Sanctions and Illicit Finance led research on sanctions evasion and terrorist financing threats.

In 2016 he began tracking the illicit use of crypto and wrote some of the first public analysis on a terrorist crypto crowdfunding campaign. He later published a major study on efforts by Russia, Iran, Venezuela, and China to build national blockchain infrastructure. Yaya is currently an Adjunct Senior Fellow at the Center for a New American Security (CNAS) and Visiting Fellow at Georgetown's Psaros Center for Financial Markets and Policy.

He is a frequent media commentator and has testified before Congress multiple times on illicit financing issues. He is considered a leading expert on China’s CBDC.

Annie Dizon

Chief Operating Officer

With more than 20 years of tech, operations, and marketing experience, Annie has held several senior executive positions at the global social impact nonprofit TechSoup; most recently serving as Vice President of Customer Experience. Prior to TechSoup, she led marketing communications programs for leading Fortune 500 companies in the financial and professional services sectors.

Ji Kim

President and Acting Chief Executive Officer

Ji Kim is the President and Acting Chief Executive Officer of the Crypto Council for Innovation - the premier global alliance for advancing the promise of this new technology through research, education and advocacy. Prior to this role, he served as the Chief Legal & Policy Officer for CCI. Before joining CCI, he was General Counsel and Head of Policy & Regulatory Affairs at Gemini, a global digital asset exchange and custodian.

In his role, Ji led the legal, policy, and regulatory affairs teams and also set and implemented Gemini’s global strategy for engaging with regulators, policymakers, and the government. Prior to that, he was a senior attorney at Kraken, another global digital asset exchange. In prior roles, he was an attorney at Willkie Farr & Gallagher LLP and served as Federal Judicial Law Clerk to the Honorable Robert D. Drain of the Southern District of New York, U.S. Bankruptcy Court.

In prior roles, he was an attorney at Willkie Farr & Gallagher LLP and served as Federal Judicial Law Clerk to the Honorable Robert D. Drain of the Southern District of New York, U.S. Bankruptcy Court.

Sheila Warren

Senior Global Policy Advisor

In 2023, Sheila was voted one of the most influential women in DC by the Washingtonian. Prior to the Crypto Council, she founded the World Economic Forum’s blockchain and digital assets team and was a member of the Executive Leadership Team. She oversaw tech policy strategy across 14 countries and regularly briefed ministers, CEOs of the Fortune 100 and Heads of State.

She spent significant time as a lawyer and executive in the nonprofit sector helping companies work with emerging technology to solve problems and increase efficiency. She was on the leadership team at TechSoup and built NGOsource, an online service that helps US foundations reduce costs on cross-border grants.

Sheila began her career as a Wall Street attorney at Cravath, Swaine & Moore LLP after earning her J.D. at Harvard Law School. She graduated magna cum laude from Harvard College with a degree in Economics. She is the co-host of Money Reimagined, a CoinDesk podcast.

Senator Cory Gardner

Senior Political Advisor

Senator Gardner honorably represented the state of Colorado from 2015 to 2021 after two terms in the United States House of Representatives. During his tenure, Cory was consistently recognized as one of the most bi-partisan members of the Senate, sponsoring and passing milestone legislation like the Great American Outdoors Act,

America COMPETES Act, the Asia Reassurance Initiative Act and the 988 Suicide Prevention Hotline. He served on the Senate Committee on Foreign Relations, Senate Committee on Energy and Natural Resources, and the Senate Committee on Commerce, Science, and Transportation.

Mark Foster

EU Policy Lead

Mark has over 20 years of experience advising public and private sector entities on EU policy and politics. He started his career in Brussels as a European Parliamentary Assistant from 2003 to 2007. He later developed expertise in EU financial services as a Senior Official in the UK Permanent Representation.

In 2011, he moved to Kreab, a global public affairs and consultancy firm, where he became Partner in the financial services practice. He has held elected roles in trade associations including vice-chair at the financial services committee of AmCham EU and he retains a role as vice-chair for the EU/UK task force at the British Chamber of Commerce to the EU.

Mark was VP of Government Relations at Barclays from 2019-2021 before establishing his own business – Strategic Advisory Management - at the start of 2022.

Alison Mangiero

Senior Director, Staking Coalition & Industry Affairs

Alison Mangiero is the Executive Director of Proof of Stake Alliance (POSA), a CCI project that advocates for clear and forward-thinking public policies that foster innovation in the rapidly growing, sustainable, multi-billion dollar staking industry.

Alison began working in the industry in 2018, when she founded the Tocqueville Group (“TQ”), an entity that created open-source software and other public goods for Tezos, one of the first proof-of-stake blockchains to launch. Before founding TQ, she spent a decade in public policy and academia, and has broad experience fundraising and growing membership associations.

A passionate advocate of the liberal arts, Alison also teaches courses on leadership at the College of the Holy Cross and is on the Executive Board of Advisors for the University of Richmond's Jepson School of Leadership Studies.An alum of the University of Richmond and Boston College, Alison lives in the New York City suburbs with her husband and two young daughters.