Privatbank Hauck & Aufhäuser: BaFin licence paves the way for crypto investment transactions

A subsidiary of the private bank Hauck & Aufhäuser has obtained a BaFin licence as a registered capital management company for crypto investment transactions.

The private bank Hauck & Aufhäuser is entering the crypto investment business with its subsidiary Hauck & Aufhäuser Innovative Capital, according to a press release issued by the bank on 30 September.

According to its own statements, Hauck & Aufhäuser received the necessary licence from the German financial supervisory authority BaFin as a registered capital management company (KVG) on 30 September.

Crypto asset management with external custody

Equipped with the BaFin licence, Hauck & Aufhäuser Innovative Capital will in future offer administration and portfolio management of digital assets. The bank relies on Kapilendo AG as crypto custodian for its customers.

Michael Bentlage, CEO of Hauck & Aufhäuser, expects strong growth in the crypto segment, the banker said in the announcement:

„Forecasts assume an increasing demand for fund products for digital assets and we also feel a strong interest on the customer side. It is therefore important for us to set the right course here at an early stage and to give our customers access to this innovative asset class“.

Hauck & Aufhäuser wants to reach both investors and issuers of digital assets with its offer, as board member Dr. Holger Sepp emphasises:

„On the one hand, we want to enable investors to invest in digital assets. At the same time, we also want to offer fund initiators services in the setup, administration and custody of digital assets“.

Private banks rely on crypto business

Hauck & Aufhäuser already participates in a venture capital investment fund for German tech companies, which also invests in block chain projects. Like the Swiss private banks Julius Bär and Maerki Baumann, the German private bank with its capital management company also wants to be directly involved in the crypto investment business in the future.