After Coinbase, the crypto custodian Kapilendo is the second company to receive approval from BaFin to hold crypto assets.
Kapilendo Custodian AG can boast a great success. Like from a LinkedIn post emerges, the Berlin company is now receiving Coinbase a license from BaFin as the second custodian of crypto values in Germany. This allows the financial service provider to officially conduct and advertise its business activities in the local area – all under the watchful eye of the German financial supervisory authority.
This opens up new opportunities for Kapilendo Managing Director Didier Goepfert. A clear legal framework and licensed providers would help financial institutions participate in the development and growth of the fledgling digital asset market, he says. Goepfert also predicts:
In my opinion, the influx of new investors will fuel market growth over the next year and result in less volatile markets which in turn will attract new investors, which should create a positive feedback loop.
Kapilendo Managing Director Didier Goepfert, LinkedIn post
Hauck & Aufhäuser takes over Kapilendo
In addition, there is a change of ownership at Kapilendo. In a Press release announced the private bank Hauck & Aufhäuser the takeover of the crypto-custodian. Accordingly, an agreement was reached with Bloxxon AG on the acquisition of the Berlin company. In the future, Kapilendo will carry out its activities under the new name Hauck & Aufhäuser Digital Custody AG continue.
The decisive point for the takeover was the license from BaFin. In the communication, Dr. Holger Sepp, member of the board at Hauck & Aufhäuser:
After the launch of Germany’s first Digital Assets Fund (HAIC Digital Assets Fund I) from an established financial service provider, we are pleased to be leading the way with the new Hauck & Aufhäuser Digital Custody AG when it comes to the custody of digital assets.
Dr. Holger Sepp, member of the board at Hauck & Aufhäuser
At the end of June, BaFin issued a license to store crypto assets Coinbase Germany high waves in crypto space. Now Kapilendo follows. In the future, more licenses are likely to be added. From a request from the FDP parliamentary group to the Federal Ministry of Finance, it emerges that in addition to the permits already issued, there were 25 other applications. Some of them are slated for approval “in the coming weeks”. However, it is not yet known exactly which companies these are. However, the fact that BaFin is granting new approvals for companies like Kapilendo is definitely a positive thing. Not only because this prevents accusations of preferring Coinbase, but also because the crypto location Germany is being expanded with the move.