DekaBank has announced that it will offer cryptocurrency products to its institutional clients. DekaBankis a German infrastructure banking with more than $390 billion in assets under management (AUM). According to various sources, the crypto products will be opened up to the institutional clients of the bank.

The cryptocurrency offering is pending approval by the BaFin, the corresponding regulator of the country. Other institutions like the French General Society Y citi they have offered the same since 2022.

As for when this will happen, the banking institution revealed that the application is already pending approval by the country’s regulator, namely the Federal Financial Supervisory Authority (BaFin). Once approved, DekaBank will offer such a service through a partnership with METHACUSa Swiss-based digital asset custody company.

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andreas sackProduct Owner Digital Assets Custody head of DekaBank, said in a press release:

Digital assets are a fundamental part of the future, a radically new way of how assets will be represented, from currencies to real estate,” Andreas Sack, owner of the digital asset custody product at DekaBank.

Today we take another important step to lay the foundation for our institutional investors and millions of people in Germany to access this transformational opportunity.

The press release did not specify what type of digital assets will be served by DekaBank. Given the broad definition of digital assets, it is not entirely clear if cryptocurrencies will be part of the offerings.

Nevertheless, METHACUS is known as a crypto escrow provider. Additionally, other financial institutions such as France-based Societe Generale and banking giant Citi have turned to METACO for similar services since 2022.

Relatively, the UK Treasury is looking for a head of central bank digital currency and senior policy adviser for central bank digital currency, another ‘conspiracy theory’ that is becoming reality.

Apparently, the Labor-backed 15-minute city of Oxford (WEF) needs a digital ID and CBDC to function. Your buying power will only work within your assigned sector unless you are authorized outside of that sector.

Meanwhile, Nigeria limits cash withdrawal to $45 a day in CBDCs, digital push. Most Nigerians rejected the E-Naira when it was introduced and will never use it. I personally won’t use it, that’s for sure. There is no trust in the government.