Crypto Storage AG is to open an office in Frankfurt, Germany. With this step, the company is aiming to expand its offering of secure crypto-asset storage solutions in Germany as well.
With its new location in Frankfurt am Main, Crypto Storage AG, which is headquartered in Zurich, has laid the foundations for its future engagement in the German market. As the company explained to the media, the first phase will above all be focused on offering secure digital asset storage solutions for institutional and professional investors. The second phase should target a broader client base.
This development comes on the back of the announced changes to the German Banking Act (Kreditwesengesetz), which will facilitate the implementation of the fifth Anti-Money Laundering Directive from the European Union (EU). Stringent requirements and standards regulating crypto-asset trading will apply from January 1, 2020 in Germany and all other EU members states.
CEO Stijn Vander Straeten explained that the decision to set up a base in Germany at this precise moment came about as a “a logical consequence of the recent regulatory developments implemented in Germany” given that Crypto Storage AG has proven storage infrastructure and tokenization services in addition to top-tier corporate governance and professional risk management. Therefore, the press release explains further, it is a significant advantage to have a capable partner in the form of Crypto Storage AG on the market