HEUKING advises dwpbank on MiCAR notification for crypto-asset trading
HEUKING advised Deutsche WertpapierService Bank AG (dwpbank), a leading provider of securities services in Germany, in a BaFin notification procedure to extend its licensed services to include crypto-asset services. With the wpNex platform, dwpbank has been offering its client institutions a productive solution for trading digital assets since summer 2024.Following the conclusion of the MiCAR notification procedure, dwpbank is able to continue to execute its clients’ orders to buy and sell crypto-assets such as Bitcoin and Ether in compliance with the Markets in Crypto-Assets Regulation (MiCAR).
More than 1,000 credit institutions from all three German banking sectors have outsourced their securities processes to dwpbank. For these institutions, dwpbank manages some 5.3 million securities accounts with a custody volume in excess of EUR 2.2 trillion and processed more than 53 million securities transactions in 2024. With this leading and established market access, dwpbank is helping to fully integrate crypto-asset trading into the broader German banking landscape via its wpNex digital asset platform. It allows custody account clients of banks and savings banks to invest in crypto-assets directly in their familiar banking environment and thus to view and manage traditional and digital assets in a single space.
Led by lawyer Dr. Dr. Johannes Blassl, HEUKING comprehensively advised dwpbank on the notification procedure and the introduction of crypto-asset trading. This engagement underscores HEUKING's role as legal advisor to banks on crypto matters. Established institutions and crypto-asset service provider such as dwpbank rely on HEUKING when entering new crypto-based business areas.
The team led by Frankfurt-based Partner Dr. Dr. Johannes Blassl regularly advises banks across practice groups on the legally compliant design and implementation of crypto-based business models.
Counsel to Deutsche WertpapierService Bank AG
HEUKING:
Dr. Dr. Johannes Blassl (Lead),
Dr. Christoph Gringel,
Svenja Brinkmann, all Financial Regulatory, all Frankfurt
