DZ BANK pioneers institutional digital asset custody offering with Ripple Custody
DZ BANK, a leader in the German financial sector, has successfully launched a digital custody offering for crypto securities such as tokenized bonds, integrating blockchain technology to enhance capital market efficiencies.
Goal
Develop a cutting-edge solution for the custody, settlement, and management of digital assets, seamlessly integrated with existing capital market processes.
Solution
Collaborating with Ripple Custody, implementation of a robust digital asset software infrastructure enables DZ BANK to incorporate blockchain analytics and wallet management into its offerings, delivering a comprehensive digital custody service to their clients for crypto securities under the German eWpG law.
DZ BANK is quite happy and we are very proud that we were one of the first banks in Germany which really built and made their digital custody platform going live. We can serve our clients, dealing with settlement and custody of digital assets, focusing on crypto securities according to the German securities law.
Holger Meffert
Head of Securities Services and Digital Custody at DZ BANK
DZ BANK's Digital Custody Platform: A New Era in Asset Management
DZ BANK, the largest German depository bank with a volume of Є350 billion assets under custody (as of end of August 2024), is one of the first in the country to go live with an institutional digital asset custody offering. The bank has partnered with Ripple to create a solution that integrates seamlessly with existing capital market processes, aims to optimize the custody, settlement, and management of digital assets, and provides clients with innovative products and enhanced performance. The architecture of this platform revolves around robust blockchain technology, ensuring secure and efficient transactions and wallet management. DZ BANK's adoption of digital ledger technology underscores its commitment to staying at the forefront of financial innovation, offering improved services and new opportunities to asset managers.
