— One of Germany’s largest banks is now offering ‘Crypto Protection Services

— This comes in response to ‘high market demand’ within the country

— Crypto protection services will be implemented within the body ‘as soon as possible’

With cryptocurrency becoming far more approachable to the layman, as well as the adoption of non-fiat currencies seeing fast-moving acceptance throughout German society, Hamburg-based bank, Donner & Reuschel, is now taking steps to integrate ‘crypto protection services’ into its service offerings.

With the bank currently holding €9 billion assets under its management, this is a significant move for the German banking sector.

Donner & Reuschel spokesman, Marcus Vitt, has the following to say about the decision:

“We have been observing the digital assets market for quite some time and are convinced of the potential of blockchain technology also concerning classic securities transactions.”

“Blockchain technology will result in the greatest structural change in the financial industry that I have been able to experience so far in my 20-year banking career.”
Vitt went on to say, emphasising the importance of ensuring banks move fluidly with the ever-growing interest in cryptocurrencies amongst the broader population.

However, this is just one step the centuries-old bank is taking in the midst of the changing digital currency landscape — Donner & Reuschel are intended to implement further crypto-related offerings to their services, although which form these will take is currently an unknown.

On a broader level, last December the German government relaxed laws around issuers and holders of crypto-based securities requiring paper certificates as a means of documents transactions — another signifier of the nation heralding itself as one of western nations most ahead of the curve in this sphere.