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Commerzbank AG, the fourth largest bank in Germany, has obtained its Crypto Custody License, making it the first full-service bank in the country to receive this license. The bank plans to offer a range of digital asset services, with a focus on crypto assets. Its initial objective is to create a secure and compliant platform for institutional clients to manage their crypto holdings. This move is seen as a significant milestone for Commerzbank’s entry into the digital asset industry. The bank serves a large number of corporate and private customers in Germany and handles a substantial portion of the nation’s foreign trade. Commerzbank had previously expressed its interest in crypto asset safekeeping and trading, and it has also collaborated with other banks to develop tokenized art and real estate marketplaces. This development follows a trend of European banks cautiously exploring digital asset management. Societe Generale in France and HSBC in the UK have also made moves in the crypto custody space. The involvement of major banks in the crypto industry is seen as crucial for the maturity and wider adoption of cryptocurrencies.