Commerzbank has received a cryptocurrency custody license

Frankfurt-based Commerzbank AG has received a cryptocurrency custody license that will enable the bank to “establish a wide range of digital asset services, particularly crypto-assets.” The bank said it was "the first German full-service bank to receive a license." The report commented that the move shows that European banks, which initially avoided the crypto asset class due to the associated risks and the possibility of money laundering, are now cautiously entering the market. (Bloomberg)