German private bank Donner & Reuschel, which is located in Hamburg, will start offering services for the purchase and storage of cryptocurrencies. Although Donner & Reuschel did not provide an exact launch date, they expect to launch the new product “as soon as possible.” It is reported by the local edition of Asscompact, argued that the decision to enter the cryptocurrency business is associated with a surge in interest in digital assets:
Bank representative added that there is a high demand for cryptocurrency custody services in Germany, and the bank does not want to keep up with this trend.
The German bank, founded in 1798 and with subsidiaries in Luxembourg, has also hinted at exploring other blockchain projects. In fact, the local publication indicated that Donner & Reuschel is already analyzing some projects related to tokenization.
Recently, a public company from Germany, Synbiotic SE, which is listed on the Frankfurt Stock Exchange and Xetra, announced that it is hedging bitcoins to protect itself from currency devaluation.