DZ BANK, a well-known bank in Germany, recently announced that they have launched a digital custody platform, in partnership with Ripple and this step marks a milestone in the institutional asset management sector. This platform focuses on custody settlement and management of crypto securities such as tokenized bonds, aligning with German eWpG law for electronic securities.
A New Standard in Digital Asset Custody
In partnership with Ripple Custody, DZ BANK has developed a blockchain-based infrastructure to revolutionize asset management. Advanced blockchain analytics and wallet management that allow secure and efficient transactions for the institutional clients has been incorporated within this platform.
According to Holder Meffert, Head of Securities Services and Digital Custody at DZ BANK, this step by the bank indicates its commitment towards innovation and excellence.
“We are proud to be one of the first banks in Germany to launch a live digital custody platform, enabling us to serve clients with advanced solutions for crypto securities.”
Advancing Capital Market Efficiencies
The platform integrates with existing capital market processes, offering asset managers enhanced performance and innovative product offerings. With €350 billion in assets under custody as of August 2024, DZ BANK’s new platform represents a significant leap forward in digital asset services.
The project with DZ BANK and Ripple was completed in a short span of 10 months which indicates the banks agility and dedication to stay at the top in the field of financial technology. With this adoption of digital ledger technology, DZ BANK optimizes its operation and also opens new opportunities for its clients.
This move is going to set DZ BANK’s position as a leader in digital asset management sector and will act as a key innovator in Germany’s evolving financial landscape.
