German financial authority BaFin grants third authorization to provide crypto-safekeeping services to Munich-based company Tangany
Munich-based technology and financial services provider Tanga received a license from the German Federal Financial Supervisory Authority (BaFin) on October 1, 2021, as the third regulated service provider for the safekeeping of digital assets in Germany to provide crypto safekeeping activity in accordance with Â§ 1 Section 1a Sentence 2 â 6 of the German Banking Law (KWG).
Tangany’s vision of combining cutting-edge and highly secure technology for the custody of digital assets with regulatory security is confirmed by BaFin. In addition, Tangany plans to apply for further licenses in Germany and Europe in the future and has already received preliminary authorization from BaFin to operate registers of crypto securities in accordance with Article 65, section 2 of the German banking law (KWG).
Tangany GmbH is a regulated B2B white label cryptocurrency custodian in Germany with its head office in Munich. Customers can use the Tangany Custody Suite to store digital assets such as Bitcoin, Ethereum, stablecoins, NFT, and security tokens in hot wallet and cold wallet storage solutions. Developed in-house since 2018 at the highest technical level, Tangany Custody Suite combines cutting-edge digital asset custody technology with regulatory security through the granting of the crypto custody license by Bafin.
In recent years, Tangany has been regularly recognized for its premier portfolio infrastructure. These include Tangany which won the Fintech Germany award in 2020 (Seed Stage) and 2021 (Investment Technology) and received the title of âBest German Crypto Custodian 2021â from TiAM magazine (Trends in Asset Management) at the summer 2021.
“We expect blockchain technology and digital assets such as Bitcoin, Ethereum as well as tokenization of real assets also in relation to newly introduced electronic securities to develop strongly. Our goal is to support the new decentralized world with our underlying infrastructure (Custody Suite) as a B2B white label provider, and thus provide the traditional financial world with access to digital assets as well,âExplains Julian Richter (Sales and Business Development Manager).
“We are incredibly proud to have reached our next milestone. As the third regulated service provider for digital asset custody in Germany, we have been licensed to provide crypto custody services. The clear German regulatory framework for the custody of digital assets will help us achieve long-term sustainable growth. With currently over 30 B2B clients, including many banks and regulated financial service providers, and over 60,000 active wallets with â¬ 400 million in crypto assets on deposit, we are proving our potential and demonstrating the growing market demand. ,âSaid Martin Kreitmair, CEO of Tangany.
About Tangany GmbH
Tangany GmbH is a regulated white label B2B cryptocurrency custodian in Germany in accordance with section Â§ 1 (1a) sentence 2 â6 German Banking Act (KWG) based in Munich. With Tangany Custody Suite, clients can store digital assets such as Bitcoin, Ethereum, Stablecoins, NFT, and Security Tokens in hot wallet and cold wallet storage solutions. Developed in-house since 2018 at the highest technical level, Tangany Custody Suite combines cutting-edge technology for the custody of digital assets with regulatory security.
Tangany has been regularly recognized for its premier portfolio infrastructure for digital asset custody in recent years. Tangany won the Fintech Germany Award in 2020 (Seed Stage) and 2021 (Investment Technology). In addition, Tangany has received the preliminary authorization in accordance with Â§ 65 (2) of the German Banking Law (KWG) by BaFin to manage the register of crypto securities.
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