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German Regulator BaFin Grants Third Crypto Custody License to Tangany

Tangany has received a license from the German Federal Financial Supervisory Authority (BaFin) as the third regulated service provider for the custody of digital assets in the country to provide crypto custody business.

Furthermore, Tangany plans to apply for further licenses in Germany and Europe in the future and has already received preliminary permission from BaFin to manage registers of crypto securities.

Tangany is a B2B white-label crypto custodian regulated in Germany with its headquarters in Munich.

Customers can use the Tangany Custody Suite to store digital assets such as Bitcoin, Ethereum, stablecoins, NFTs, and security tokens in warm wallet and cold wallet storage solutions.

Developed in-house since 2018 at the highest technical level, Tangany Custody Suite combines digital asset custody technology with regulatory security through the granting of the crypto custody license by Bafin.

“As the third regulated service provider for the custody of digital assets in Germany, we have received the license to provide crypto custody services. The clear German regulatory framework for custody of digital assets will help us to achieve sustainable growth in the long run.

With currently more than 30 B2B customers, including many regulated banks and financial service providers, and over 60,000 active wallets with 400 million euros of crypto assets in custody, we are proving our potential and demonstrating the growing demand in the market,”

said Martin Kreitmair, CEO of Tangany.

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Fintechnews Switzerland
Fintech News Switzerland provides a source of timely, deep insights and the latest local and global news about Fintech. Launched in 2014, the Fintech News Network team works very hard to deliver fintech-centric content in various forms to an audience looking for updates on fintech events and webinars, stunning opinions from highly-reputable digital finance innovators, analysis on fintech applications from active insiders, breaking news on fintech topics and fintech market alerts.
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Permanent link to this article: https://snbchf.com/2021/10/switzerland-german-regulator-bafin-grants-crypto-custody-license-tangany/

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