Ripple powers German banking giant DZ Bank’s crypto custody business

DZ Bank, one of the largest banks in Germany, plans to launch its digital asset custody platform for institutional clients and has announced plans to use Ripple technology to provide the product. Ripple Labs subsidiary Metaco has been appointed as a key partner to support DZ Bank's foray into the crypto custody business. As part of its new functionality, DZ Bank can now act as a custodian for institutional clients' cryptocurrencies, settling and holding cryptocurrency securities in accordance with German electronic securities law.