DekaBank, which has 360 billion euros in assets under its management, has reached an agreement with Swiss crypto infrastructure provider Metaco. Thanks to this agreement, the German giant will allow corporate companies in the country to invest in cryptocurrencies, especially Bitcoin.
While the announcement is made officially, Metaco will take on custody responsibility as well as cryptocurrency management operations.
“We provide an opportunity for transformation”
Andreas Sack, DekaBank’s head of digital assets custody, described digital assets and cryptocurrencies as a “radical way” in terms of representation, and used the following statements:
“Digital assets will be a critical part of the future. They will become a radical new way of representing assets, from currencies to real estate. Today, we are giving our institutional investors and millions of people in Germany access to this transformational opportunity.”
As it is known, under the “special funds law”, also known as “Spezialfonds” in Germany, institutional funds are allowed to buy Bitcoin and Ether with up to 20 percent of their assets.
A spokesperson for Dekabank stated in a statement to Bloomberg in July 2021 that the bank was considering buying Bitcoin. However, no official statement has been made since then.
