105-Year-Old German Bank Readies To Offer Crypto Services

German finance stalwart DekaBank is preparing to offer crypto services to institutional clientele, indicating bigwig interest isn’t slowing

article-image

Shutterstock.com/Tobias Arhelger, modified by Blockworks

share

German lender DekaBank has tapped Metaco to head up its digital asset operations as the financial player looks to expand into institutional crypto offerings. 

DekaBank, which currently manages more than 360 billion euros ($390.9 billion) in assets, will use Swiss services provider Metaco for custody and capital market solutions, the bank announced Tuesday. The partnership is pending regulatory approval. 

Metaco, founded in 2014, specializes in institutional cryptocurrency custody and trading, as well as decentralized finance (DeFi) services. 

“Digital assets are a critical part of the future, a radical new way for how assets will be represented, from currencies to real estate,” Andreas Sack, product owner of digital assets custody at DekaBank, said in a statement

“Today we make another important step towards laying the foundation for giving our institutional investors and millions of people in Germany access to this transformational opportunity.”

DekaBank, founded in 1918, is the securities provider of Sparkassen-Finanzgruppe, the largest financial services group in Europe.

Metaco has experience with the European regulatory system, DekaBank noted in Tuesday’s press release. Metaco “established itself as a leading technology provider to financial institutions and corporations in the digital asset ecosystem,” the release read.  

The Metaco partnership is not Sparkassen-Finanzgruppe’s first foray into crypto. In December 2021, the banking group confirmed it was working on a pilot project to allow customers to access bitcoin and ether directly through their existing accounts. 

DekaBank’s announcement comes shortly after Metaco revealed it would be partnering with Togg, a Turkish car company, on its mobility ecosystem built on the Avalanche blockchain. 

In any case, DekaBank’s native Germany has been known as one of the more friendly countries when it comes to crypto regulation, Renate Prinz, partner at McDermott Will & Emery LLP, wrote in a November 2022 blog

The country has some of the clearest guidelines on licensing requirements and token classification, Prinz said, allowing for investors and businesses to more confidently enter the space.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Axiom report graphic.png

Research

Axiom has rapidly become the leading Solana trading bot, capturing over 50% of Solana bot volume and hovering at 3-4% of total Solana memecoin volume just three months post-launch, driven by high user activity and larger average trade sizes.

article-image

Bloomberg Intelligence analysts pegged the odds of the SEC approving US litecoin and solana ETFs in 2025 at 90%

article-image

Digital Assets Subcommittee Chair Bryan Steil called for a “roundtable” discussion in lieu of a formal hearing

article-image

The exchange sees a way to reach gamers through the deal

article-image

The drop gives buyers Adidas outfits for their in-game characters, but the game hasn’t fully released yet

article-image

In 1999, Daniel Bernstein fought for code to be protected, just like free speech