Report: Germany’s Dz Bank Secures Mica License For ‘meinkrypto’ Platform
Retail crypto access will initially cover Bitcoin, Ether, Litecoin and Cardano through participating cooperative banks.
DZ Bank, one of Germany’s largest banking groups by assets, secured a license under the European Union’s Markets in Crypto-Assets Regulation (MiCA), clearing a key regulatory hurdle to operate crypto services within the jurisdiction.
DZ Bank announced Wednesday that it had received approval from Germany’s Federal Financial Supervisory Authority (BaFin) to operate its crypto platform, “meinKrypto,” which is designed to provide crypto trading infrastructure to banks within Germany’s cooperative banking network. The platform will be made available to participating local banks in the coming months.
Under the model, DZ Bank will act as the central operator of the platform, while individual cooperative banks will determine whether to offer the crypto services to their retail customers. Each participating bank must file a separate MiCA notification with BaFin before enabling crypto trading.
At launch, the offering will support Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Cardano (ADA) and will be integrated directly into the VR Banking App as a self-directed investment option.
The MiCA license marks a transition from planning to execution for DZ Bank’s crypto strategy, following years of regulatory preparation by European financial institutions.
MiCA establishes a unified legal framework for crypto assets and related services across the EU, replacing fragmented national regimes with a single supervisory standard.
DZ Bank’s approval allows it to legally operate crypto infrastructure under the framework. However, it does not automatically authorize retail distribution across its entire network.
Banks that want to offer crypto services to their consumers through the infrastructure must individually engage with regulators before offering crypto trading.
The “meinKrypto” platform was developed jointly by DZ Bank and Atruvia, the IT service provider of Germany’s cooperative financial group.
Source: CoinTelegraph
