Commerzbank receives crypto custody licence in Germany

Commerzbank's Polish unit mBank's logo is seen in Warsaw, Poland, May 31, 2023. REUTERS/Kacper Pempel/File photo

(Reuters) - Commerzbank AG on Wednesday said it has received a crypto custody licence in Germany, which it said will allow it to launch a "broad range" of digital asset services, with a focus on crypto assets.

The services will be aimed at institutional and corporate clients, and the first product will be a custody service for the cryptocurrencies bitcoin and ether, a spokesperson for Commerzbank said via email.

(Reporting by Nilutpal Timsina in Bengaluru, additional reporting by Elizabeth Howcroft in London; editing by Jason Neely, Kirsten Donovan)