Secure Investment Vehicle for Germans
DekaBank Embraces Digital Currencies Through Metaco Partnership
Secure Investment Vehicle for Germans
Germany’s and Europe’s largest asset manager, DekaBank, has partnered with Swiss crypto services provider Metaco to provide its clients with access to Bitcoin and other cryptocurrencies. Through this innovative partnership, DekaBank's broad network of local savings banks now have the opportunity to invest in digital assets in a secure and regulated way. This article will explore the features of the partnership, the regulations that apply, and the impact it has on institutional investors.
Features of the Partnership
With asset management totaling over $390 billion, DekaBank is one of Germany’s and Europe’s leading asset managers. This week, the institution announced its partnership with Swiss crypto services provider Metaco to offer its clients access to Bitcoin and other digital currencies. With this innovative collaboration, DekaBank’s vast global network of local savings banks now have the opportunity to invest in digital assets in a secure and regulated way.
DekaBank offers retail and institutional clients an extensive range of investment products and services, including custody solutions, capital markets, and asset management for the German savings banks financial group. The partnership with Metaco will enable DekaBank’s worldwide network of local savings banks to access Bitcoin and other cryptocurrencies through a regulated and intuitive investment vehicle.
Andreas Sack, DekaBank’s digital asset custody product owner, said in a press release that the entity’s digital asset custody services will provide a secure and compatible proposition for its global network of savings banks, with the highest security standards. This is a significant step forward for institutional investors and millions of people in Germany to have access to this transformative opportunity.
The Impact of the Partnership
This move towards digital currencies is indicative of a larger trend amongst asset managers and institutional investors. David Duong, head of institutional research at Coinbase, recently noted in an interview that institutions have not been harmed by the collapse of FTX and that the interest and contagion that followed has still been maintained. On the other hand, JPMorgan analyst Jared Groos believes the opposite.
At Matwal Solutions, we help our clients navigate the complexities of the business and ensure they are compliant with the relevant local regulations. We provide tailored legal advice and a full suite of commercial legal services, helping our clients take advantage of the opportunities provided by the digital currency markets. Our team is here to help you understand the regulations and utilize the digital asset solutions in the most secure and compliant manner.
Conclusion
In conclusion, the partnership between DekaBank and Metaco is a groundbreaking step forward in the digitization of traditional assets. This development is sure to open the door to digital currencies for millions of people in Germany and will no doubt inspire more asset managers and institutional investors to explore the digital currency markets.