On Wednesday, DZ Bank secured a Markets in Crypto-Assets Regulation license in Germany. The bank announced approval from BaFin to operate its crypto platform.
The platform, called meinKrypto, will provide trading infrastructure to cooperative banks. DZ Bank said it will make the service available to participating local banks soon.
Under the model, DZ Bank will act as the platform’s central operator. Individual cooperative banks will decide whether to offer crypto trading to retail customers.
Each participating bank must file a separate MiCA notification with BaFin before enabling trading. (Ed. note: This preserves local supervisory control over retail distribution.)
At launch, the platform will support Bitcoin, Ether, Litecoin and Cardano. It will integrate directly into the VR Banking App as a self-directed investment option.
The approval moves DZ Bank from planning into execution of its crypto strategy. On Sept. 19, 2024, the bank partnered with Boerse Stuttgart Digital to target about 700 cooperative banks, and the license clears key legal uncertainty for scaling services across the EU.
