Retail crypto access will initially cover Bitcoin, Ether, Litecoin and Cardano through participating cooperative banks.
DZ Bank, one of Germany’s largest banking groups by assets, secured a license under the European Union’s Markets in Crypto-Assets Regulation (MiCA), clearing a key regulatory hurdle to operate crypto services within the jurisdiction.
DZ Bank Wednesday that it had received approval from Germany’s Federal Financial Supervisory Authority (BaFin) to operate its crypto platform, “meinKrypto,” which is designed to provide crypto trading infrastructure to banks within Germany’s cooperative banking network. The platform will be made available to participating local banks in the coming months.
Under the model, DZ Bank will act as the central operator of the platform, while individual cooperative banks will determine whether to offer the crypto services to their retail customers. Each participating bank must file a separate MiCA notification with BaFin before enabling crypto trading.
At launch, the offering will support Bitcoin (), Ether (), Litecoin () and Cardano () and will be integrated directly into the VR Banking App as a self-directed investment option.
MiCA approval marks execution phase for DZ Bank’s crypto plans
The MiCA license marks a transition from planning to execution for DZ Bank’s crypto strategy, following years of regulatory preparation by European financial institutions.
MiCA for crypto assets and related services across the EU, replacing fragmented national regimes with a single supervisory standard.
DZ Bank’s approval allows it to legally operate crypto infrastructure under the framework. However, it does not automatically authorize retail distribution across its entire network.
Banks that want to offer crypto services to their consumers through the infrastructure must individually engage with regulators before offering crypto trading.
The “meinKrypto” platform was developed jointly by DZ Bank and Atruvia, the IT service provider of Germany’s cooperative financial group.
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Following through on earlier rollout plans
On Sept. 19, 2024, DZ Bank to bring crypto trading and custody services to roughly 700 cooperative banks, with an initial rollout planned for late 2024. At the time, the initiative was framed as a phased deployment pending regulatory approvals.
The approval resolves key uncertainty surrounding earlier plans, providing a clear legal basis for operating crypto services at scale within the EU.
While widespread retail access is not immediate, the license positions DZ Bank as one of the first major banking groups to operationalize MiCA in practice.
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