German lender Commerzbank applies for cryptocurrency license

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• Germany's Commerzbank (OTCPK:CRZBF) (OTCPK:CRZBY), one of the largest lenders in the country, has applied for a cryptocurrency custody license during the first quarter, a spokesperson for the lender told local newspaper Börsen-Zeitung on April 14.
• The move comes as the lender aims to offer exchange services as well as custody and protection of digital assets.
• "We are pursuing our own digital asset strategy and are also planning our own offerings for our customers in the coming years," Bernd Reh, senior spokesman for Commerzbank, told Börsen-Zeitung. "We have applied for a license from the Bafin for the safekeeping of crypto assets. The future offer is initially aimed at institutional customers,” he added.
• Meanwhile, BaFin, Germany's Federal Financial Supervisory Authority, has approved just four out of 25 applications to become a crypto custodian.
• Towards the end of March, Australia's Commonwealth Bank (OTCPK:CBAUF) (OTCPK:CMWAY) said crypto activity on its app got a big boost.