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DekaBank
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DekaBank Deutsche Girozentrale is a German financial institution. It is registered in both Frankfurt and Berlin, with main operational headquarters in Frankfurt. It traces its origins to the Deutsche Girozentrale, established in 1918 as a hub for payments within the German savings banks system.
Key Information
DekaBank is the central asset manager of the Sparkassen-Finanzgruppe, and one of the largest securities services providers in Germany. As a central provider, the bank bundles its competencies in asset management and financial services in its five business areas of asset management, real estate, services, capital markets and financing. Retail and institutional clients and investors can choose from a wide range of investment products and services. DekaBank cooperates closely with local savings banks and Landesbanks. Additionally, it is represented internationally with branches, subsidiaries and representative offices in eleven countries.
DekaBank has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.[4][5]
Background
[edit]Johann Christian Eberle established the first giro association involving German savings banks, the Giroverband Sächsischer Gemeinden (lit. 'giro association of Saxon municipalities'), which was founded on 5 October 1908 with 151 members and started giro operations on 2 January 1909. Several other regional giro associations (German: Giroverbände) were subsequently created. On 26 October 1916 during World War I, the Deutscher Zentral-Giroverband (lit. 'German Central Giro Association') was established in Berlin to coordinate the activities of the Giroverbände.[6]
Deutsche Girozentrale
[edit]
The Deutsche Girozentrale (DGZ) was established on 1 February 1918, initially as a banking division of the Deutscher Zentral-Giroverband.[7]: 102 Its capital of 15 million Reichsmarks was provided by the regional Giroverbände under joint and several liability.[8]: 28 DGZ operated cashless payment (giro) transactions and settlement between the regional giro organizations (German: Girozentralen). DGZ was also tasked with short-term lending to regional giro associations that were members of the Deutscher Zentral-Giroverband, from 1924 the Deutscher Sparkassen- und Giroverband (DSGV), and to other German municipal associations, managing interest-bearing funds, buying and selling foreign exchange, and borrowing on their behalf. In 1919, DGZ was also authorized to provide long-term financing to municipalities and to issue municipal bonds. The name "Deutsche Kommunalbank" was consequently added to that of DGZ in 1921, so that its full name became Deutsche Girozentrale - Deutsche Kommunalbank, still known as DGZ. In 1931, DGZ was reorganized together with the broader municipal banking system, and it received a statute (German: Satzung) of its own in 1932. Even so, the DSGV remained ultimately liable for DGZ. At the same time, the supervision of DGZ was transferred from the Interior Minister of Prussia to the national government of the Weimar Republic. From 1933, the National Socialists used DGZ to cover the steadily growing financial needs for rearmament and later for warfare.[9]: 92
Following the end of World War II, the DGZ head office, in East Berlin, was closed by the Soviet Military Administration. In 1949, it was revived as Deutsche Kommunalbank in Düsseldorf, West Germany, but with a more limited mandate that was focused on short-term transactions. In 1954, it was again named Deutsche Girozentrale - Deutsche Kommunalbank and resumed full activities, and in 1955 it opened a branch in West Berlin. In 1964-1965, DGZ's head office was relocated from Düsseldorf to Frankfurt.[10]: 291–293
1999 merger and aftermath
[edit]On 1 January 1999, DGZ and DekaBank merged to form DGZ-DekaBank Deutsche Kommunalbank, which was renamed DekaBank Deutsche Girozentrale in 2002.
In April 2011, DSGV became the sole owner of DekaBank by purchasing the 50 percent stake owned until then by the Landesbanks.[11]
In November 2014, DekaBank came under the prudential supervisory authority of the European Central Bank as a consequence of European banking union.
In 2015, Deka joined Lloyds Bank and Qatar National Bank in a £705 million senior loan which financed the Qatar Investment Authority’s acquisition of 8 Canada Square in Canary Wharf.[12] That same year, Helaba’s leadership proposed a merger with Deka.[13] In May 2019, both entered into exploratory talks on a merger.[14] Later that year, Deka’s supervisory board instructed management to explore “deeper cooperation” with the bank from January 2020.[15]
In 2016, Deka was one of Germany's main issuers of credit-linked notes.[16]
In 2017, amid the Volkswagen emissions scandal, a German court named Deka as lead plaintiff for 1,470 damages claims against Volkswagen totaling 1.9 billion euros ($2 billion).[17]
See also
[edit]
References
[edit]- ^ DekaBank Company Profile [1] Retrieved 25 April 2015
- ^ "Deka Group at a glance". Retrieved 29 June 2025.
- ^ "Deka Group Annual Report 2024" (PDF). deka.de. Retrieved 29 June 2025.
- ^ "The list of significant supervised entities and the list of less significant institutions" (PDF). European Central Bank. 4 September 2014.
- ^ "List of supervised entities" (PDF). European Central Bank. 1 January 2023.
- ^ Sparkassenhistorisches Dokumentationszentrum des Deutschen Sparkassen- und Giroverbandes, Geschichte der Sparkassen-Finanzgruppe (PDF), DSGV
- ^ Dietmar Grichnik (2013), Bankenverbände: Strategisches Netzwerkmanagement in der Bankwirtschaft, Springer-Verlag
- ^ Margarete Wagner-Braun, "Die Deutsche Girozentrale als Antwort auf Finanzprobleme des frühen 20. Jahrhunderts: Vorgeschichte und erste Geschäftsjahre 1918-1931" (PDF), Die DekaBank seit 1918, Deutscher Sparkassenverlag, pp. 13–85
- ^ Harald Wixforth, "Die langfristigen Folgen der Bankenkrise und die Zeit des Nationalsozialismus 1931-1945" (PDF), Die DekaBank seit 1918, Deutscher Sparkassenverlag, pp. 87–172
- ^ Thorsten Beckers, "Gründung und erste Jahre der deutschen Kapitalanlagegesellschaft mbh 1956-1970" (PDF), Die DekaBank seit 1918, Deutscher Sparkassenverlag, pp. 231–304
- ^ "Germany's DekaBank fires CEO after spat over bonus". Reuters. 2 April 2012.
- ^ Judith Evans (January 21, 2016), Lloyds steps up commercial property lending Financial Times.
- ^ Andreas Kroener (August 26, 2015), German Helaba chief floats idea of merger with Deka Bank Reuters.
- ^ Klaus Lauer and Arno Schuetze (May 16, 2019), German landesbanks Helaba and Deka consider tie-up: sources Reuters.
- ^ Patricia Uhlig, Klaus Lauer and Arno Schuetze (December 5, 2019), German bank Deka makes first move toward possible merger with Helaba Reuters.
- ^ Jonathan Gould and Alexander Huebner (July 28, 2016), Germany to ban sale of credit-linked notes to retail investors Reuters.
- ^ Sabine Wollrab (March 8, 2017), German court names lead plaintiff in Volkswagen diesel test case Reuters.
External links
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DekaBank
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History
Founding and Early Development
Deutsche Girozentrale (DGZ) was founded in 1918 in Berlin as a legally dependent banking institution of the Deutsche Zentral-Giroverband, serving as a financial broker and facilitator of cashless payment transactions within the Sparkassen organization.[6] This establishment addressed the need for a centralized mechanism to handle interbank transfers and giro operations among Germany's regional savings banks, which were fragmented across federal states.[6] In the 1920s, DGZ gained recognition as a public banking institution, which allowed it to issue bearer bonds and expand its scope beyond mere payment processing.[6] It opened a branch in Frankfurt am Main to capitalize on emerging market opportunities and was designated as the central credit financing institution for municipalities, leading to the addition of "Deutsche Kommunalbank" to its name.[6] This evolution positioned DGZ as a key supporter of public sector financing, enabling it to intermediate loans and manage communal debts on a national scale.[6] During the 1930s and 1940s, DGZ underwent significant regulatory shifts, including legal independence granted by the Third Decree of the President of the German Reich, along with its own articles of association.[6] A ban on municipal lending was imposed in 1931, limiting operations until 1939, after which it functioned primarily as a liquidity hub for the savings banks network and a processor of payment transactions amid World War II and the immediate postwar chaos.[6] Following the war, with its headquarters in the Soviet sector of Berlin, DGZ faced severe disruptions, including the discharge of 90% of its employees and the nationalization of its assets in East Berlin by the German Democratic Republic in 1949.[6] It maintained access to its West Berlin assets through a provisional office and was officially recognized as a "transferred" financial institution with Düsseldorf as its registered office.[6] By 1954, DGZ resumed full banking operations in Düsseldorf, concentrating on liquidity equalization, cash management, and securities handling, while beginning a gradual transition toward investment activities.[6]Formation of Deka and Pre-Merger Growth
In 1956, the Deka Deutsche Kapitalanlagegesellschaft mbH was established on 17 August in Düsseldorf to spearhead investment fund activities within the Sparkassen-Finanzgruppe, Germany's network of savings banks.[6] This entity focused on managing equity, bond, and money market mutual funds, alongside special funds tailored for institutional clients, marking the inception of centralized investment services for the public-sector-oriented savings banks.[6] By creating a dedicated arm for asset management, Deka addressed the growing demand for diversified investment options amid West Germany's postwar reconstruction, complementing the broader payment processing role of the Deutsche Girozentrale (DGZ).[6] A significant operational shift occurred in 1965 when both DGZ and Deka relocated their headquarters to Taunusanlage 10 in Frankfurt am Main, establishing it as the primary base for their activities.[6] This move was strategically aimed at enhancing their profile as profit-oriented institutions serving the public sector, capitalizing on Frankfurt's emergence as a leading European financial center.[6] In tandem, Deka introduced innovative products such as RenditDeka, a performance-oriented fund, to broaden its offerings and align more closely with the investment needs of savings banks clients.[6] During the postwar economic boom, known as the Wirtschaftswunder, Deka experienced substantial growth in asset management and securities services, directly supporting the Sparkassen-Finanzgruppe's expansion.[6] The period's rapid industrialization and rising prosperity enabled Deka to scale its fund management operations, providing customized securities solutions that helped savings banks navigate increasing capital market complexities.[6] This development solidified Deka's role as a key enabler for the group's financial diversification, with assets under management growing steadily to meet the demands of institutional and public-sector investors.[6] By the 1990s, Deka had evolved into a specialized provider of investment products, particularly for public-sector entities and savings banks, through strategic expansions and subsidiary formations.[6] Notable advancements included the launch of real estate funds via Despa (Deutsche Sparkassen-Immobilien-Anlage-Gesellschaft mbH), founded in 1966 and rebranded as Deka Immobilien Investment GmbH, alongside international ventures like Deka International S.A. in Luxembourg and Deka Investment Management GmbH in 1993, which catered to institutional needs.[6] These initiatives positioned Deka as the central asset manager for the Sparkassen-Finanzgruppe, emphasizing tailored, high-quality investment solutions amid a maturing European financial landscape.[6]1999 Merger and Subsequent Reorganization
On January 1, 1999, Deutsche Girozentrale – Deutsche Kommunalbank (DGZ) and DekaBank GmbH merged to form DGZ/DekaBank Deutsche Kommunalbank, integrating DGZ's role as a central institution for the savings banks' payment and liquidity management with DekaBank's expertise in asset management and investment funds.[6] This merger created a unified entity that strengthened the Sparkassen-Finanzgruppe's central asset management capabilities, combining complementary business areas to enhance efficiency and service offerings for the savings banks network.[6] In 2002, the merged institution was renamed DekaBank Deutsche Girozentrale, a change that consolidated its identity as the primary central asset manager for the Sparkassen-Finanzgruppe and emphasized its Girozentrale heritage.[6] This rebranding aligned with internal structural adjustments, including the integration of investment management functions under Deka Investment GmbH, to streamline operations and focus on core competencies in fund management and securities services.[6] DekaBank expanded into the exchange-traded fund (ETF) sector in January 2008 through the formation of its subsidiary ETFlab Investment GmbH in Munich, which developed, issued, and managed index-tracking funds traded directly on stock exchanges.[6] This move diversified the bank's product portfolio, targeting institutional investors with low-cost, transparent ETF solutions, and positioned DekaBank as an early entrant in Germany's growing ETF market.[6] In 2009, DekaBank began its push into sustainable investments, publishing its first environmental report and obtaining certification for its environmental management system.[6] By 2011, DekaBank committed to enhanced sustainability standards, adopting the Equator Principles on June 3 to integrate environmental and social risk assessments into project financing decisions exceeding €10 million.[6] That same year, it joined the United Nations Global Compact on July 1, pledging adherence to its ten principles on human rights, labor, environment, and anti-corruption.[7] Concurrently, on June 8, the German savings banks (Sparkassen) assumed sole ownership of DekaBank, acquiring the remaining 50% stake previously held by Landesbanken, which reinforced its alignment with the Sparkassen-Finanzgruppe's cooperative structure.[6] In 2016, DekaBank formed bevestor GmbH, an online platform and robo-advisor subsidiary providing digital asset investment services for private investors.[6] In 2018, DekaBank marked its centennial with celebrations commemorating the 1918 founding of DGZ, highlighting a century of supporting the savings banks through economic cycles and institutional evolution.[8] The events, including a gala attended by German President Frank-Walter Steinmeier, underscored the bank's enduring role as a pillar of the public savings bank system.[8]Ownership and Governance
Ownership Structure
DekaBank operates as an Anstalt des öffentlichen Rechts, a public law institution in Germany, with registered offices in both Frankfurt am Main and Berlin.[4][9] As of August 2025, DekaBank is solely owned by the German Sparkasse savings banks, structured through two joint shareholders each holding 50% of the equity: the Deutscher Sparkassen- und Giroverband (DSGV), the central association of German savings banks, and Deka Erwerbsgesellschaft mbH & Co. KG, a limited partnership specifically established to facilitate indirect ownership by individual Sparkassen associations.[10] The DSGV's stake is held directly on behalf of its member associations, while Deka Erwerbsgesellschaft pools shares from regional Sparkassenverbände, such as those from Bayern (6.31%), Baden-Württemberg (7.70%), and Ostdeutschland (1.83%), ensuring collective control by the savings banks network.[10] Prior to 2011, ownership was shared equally between the Sparkassen (via DSGV) and the Landesbanken, the regional public banks often backed by federal states, with the latter's stake grouped through an entity like GLB GmbH & Co. OHG.[11][12] This structure transitioned fully to Sparkassen control on June 8, 2011, when the savings banks acquired the Landesbanken's 50% stake for approximately €2.3 billion, marking a pivotal shift to exclusive public ownership by the savings banks sector.[6]Governance and Regulatory Oversight
DekaBank's governance is led by its Board of Management and Administrative Board, with Dr. Georg Stocker serving as Chairman of the Board of Management since January 1, 2020, overseeing day-to-day operations and strategic implementation.[13] The Administrative Board, functioning as the supervisory body, is chaired by Prof. Dr. Ulrich Reuter, President of the German Savings Banks and Giro Association, and comprises 30 members including representatives from regional savings banks associations, management board chairmen, and staff delegates to ensure balanced oversight.[14] The bank adheres to principles of responsible corporate governance tailored to its status as a public-law institution under German federal law, emphasizing transparency, subsidiarity, and the common good within the Sparkassen-Finanzgruppe. This framework includes a Code of Ethics binding all employees and the Risk Culture Framework, with the Administrative Board exercising oversight through committees such as Audit, Risk and Credit, and Remuneration Control, while general state supervision is provided by the Federal Ministry of Finance.[15][4] As a significant institution, DekaBank has been under direct supervision by the European Central Bank (ECB) since November 2014 as part of the Single Supervisory Mechanism (SSM), which harmonizes prudential oversight across the euro area to maintain financial stability.[16][17] Sustainability is integrated into DekaBank's governance through alignment with international standards, including its adoption of the UN Global Compact principles in 2011, which guide ethical business practices, human rights, labor standards, environmental protection, and anti-corruption efforts across operations.[6] This commitment is supported by an ESG Policy that embeds sustainable practices into corporate decision-making and risk management.[7]Business Operations
Core Services and Products
DekaBank operates as the central asset manager and service provider for the Sparkassen-Finanzgruppe, offering a range of financial services and products primarily to savings banks, institutional investors, and public sector clients. The bank's activities are organized into five core business areas: asset management, real estate, securities services, capital markets, and financing. These areas enable DekaBank to provide integrated solutions that support investment, risk management, and funding needs within the German savings banks network.[18] In asset management, DekaBank focuses on fund-based products spanning equities, fixed income, and alternatives, including mutual funds, special funds, mandates, and exchange-traded funds (ETFs) offered through Deka Investments.[18] The real estate division handles investment and management services for institutional clients, emphasizing sustainable properties and infrastructure projects across Europe. Securities services provide custody, settlement, and administration for Sparkassen clients, managing millions of custody accounts and depositary assets. The capital markets area involves bond issuance, trading, and structuring of certificates, with a strong emphasis on covered bonds known as Pfandbriefe. Financing encompasses loans for municipal projects and infrastructure, including specialized credit facilities aligned with public sector needs.[4] Key products include ETFs for diversified equity and bond exposure, real estate funds for property investments, Pfandbriefe as secure covered bonds backed by mortgage or public sector collateral, and infrastructure investments through dedicated funds and loans.[18] These offerings underscore DekaBank's role in facilitating stable, long-term financing and investment options for its core constituency. As of mid-2025, assets under management reached €404.406 billion, with total assets at €96.063 billion.[5] The bank employs approximately 5,855 staff as of June 2025, primarily based at its Frankfurt headquarters, to support these operations.[5]Group Structure and Subsidiaries
The Deka Group is structured with DekaBank Deutsche Girozentrale as the parent company, overseeing a network of wholly owned subsidiaries that provide specialized financial services to the Sparkassen-Finanzgruppe, the association of over 300 German savings banks.[10] This integrated framework enables centralized asset management, investment advisory, and securities services, allowing the group to act as the primary securities house for the savings banks network.[3] Deka Investment GmbH, a 100% subsidiary of DekaBank headquartered in Frankfurt, serves as the core entity for asset management in securities, focusing on the development and management of mutual funds, exchange-traded funds (ETFs), and special funds for institutional and private clients.[10] Originally incorporating the ETF operations from the former ETFlab Investment GmbH, which was merged into it in 2013, Deka Investment GmbH handles the quantitative and fundamental management strategies essential to the group's securities offerings.[2] Deka Immobilien Investment GmbH, also 100% owned by DekaBank and based in Frankfurt, specializes in real estate and infrastructure investments, managing funds and direct investments in these areas to support the group's real estate-focused operations.[19] This subsidiary resulted from the 2019 merger with Deka Immobilien GmbH, which streamlined real estate management and enhanced operational efficiency within the group.[2] Other key holdings include Deka Vermögensmanagement GmbH (100% owned), which supports asset servicing, and WestInvest Gesellschaft für Investmentfonds mbH (99.74% owned), contributing to fund management platforms.[10] These subsidiaries collectively form the Deka Group, delivering cohesive services that align with the strategic needs of the savings banks, including infrastructure platforms for broader financial integration.[3]Financial Performance and Role
Key Financial Metrics
In 2023, DekaBank reported total income of €2.283 billion and consolidated profit after tax of €753 million, reflecting its core activities in asset management and capital markets.[20] For the first half of 2025, the bank achieved total income of €1,230.7 million and total sales of €20,379 million, alongside a Common Equity Tier 1 (CET1) capital ratio of 19.9% under CRR III, indicating strong capital adequacy.[3] DekaBank has set a target return on equity before tax of around 12% for the full year 2025, aligning with its strategic focus on sustainable profitability.[3] As of June 30, 2025, total assets stood at €96.063 billion, while assets under management (AuM) reached €404.406 billion; this AuM figure underscores growth tied to the bank's asset management services.[3] As of December 31, 2024, DekaBank employed 5,727 staff members, with operational costs managed to enhance group-wide efficiency through streamlined processes and digital integration.[21]| Metric | 2023 Value | Source |
|---|---|---|
| Total Income | €2.283 billion | Deka Group Annual Report 2023 |
| Consolidated Profit After Tax | €753 million | Deka Group Annual Report 2023 |
| Metric | H1 2025 Value | Source |
|---|---|---|
| Total Income | €1,230.7 million | Deka Group Interim Report 2025 |
| Total Sales | €20,379 million | Deka Group Interim Report 2025 |
| CET1 Ratio (CRR III) | 19.9% | Deka Group Interim Report 2025 |
Significance in the Sparkassen-Finanzgruppe
DekaBank serves as the primary securities services provider and central asset manager for the Sparkassen-Finanzgruppe, Europe's largest financial services network comprising over 300 independent Sparkassen savings banks and associated entities.[6][22] This role enables the group to pool resources and offer a unified platform for investment and securities activities, supporting the needs of its member institutions without requiring each to develop separate capabilities.[10] Central to its significance is DekaBank's facilitation of group-wide liquidity management, investment distribution, and risk diversification across the Sparkassen-Finanzgruppe's asset base of approximately €2.5 trillion as of 2024.[23] As the liquidity hub, it processes payments and provides tailored liquidity solutions, such as those under the "Deka Institutionell" framework, allowing savings banks to manage cash flows efficiently and mitigate liquidity risks collectively.[6] For investment distribution, DekaBank channels funds into equities, bonds, real estate, and other assets, diversifying risks for the group while adhering to subsidiarity principles that prioritize local decision-making.[24] DekaBank supports municipal financing and sustainable investments, such as those aligned with the UN Principles for Responsible Investment since 2012.[6] This role has solidified its position in promoting group-wide stability by enabling smaller savings banks to access sophisticated financial products, advisory services, and risk management tools without individual infrastructure investments. For details on its historical evolution, see the History section.[6][25]Recent Developments
Digital and Innovation Initiatives
DekaBank has expanded its partnership with Boerse Stuttgart Digital to develop cryptocurrency trading, custody, and front-end services for retail clients of the Sparkassen-Finanzgruppe, with launch planned for 2026.[26][27] This builds on the earlier launch of institutional crypto trading and custody in February 2025.[28][29] In April 2025, DekaBank facilitated an over-the-counter transaction as registrar, market maker, and custodian for KfW's €10 million acquisition of a portion of Berlin Hyp's blockchain-based mortgage Pfandbrief (issued in August 2024 under the German Electronic Securities Act (eWpG)) using the SWIAT blockchain.[30][31] This represented an advancement in integrating distributed ledger technology (DLT) into traditional covered bond markets while complying with German regulatory frameworks. DekaBank is preparing its own blockchain-based covered bond debut.[32] DekaBank has adopted DLT for bond trades to enhance efficiency in capital markets services, exemplified by its participation in the first secondary market trade of Siemens' €300 million digital bond in August 2025.[33] This transaction, executed on the regulated venue 360X in collaboration with Union Investment and settled via the SWIAT Network, marked a milestone in tokenized bond trading by demonstrating seamless on-chain settlement for institutional investors.[34][35] The bank has also focused on tokenization and on-chain trading pilots to explore broader applications of blockchain in securities. A notable example is the September 2025 pilot with 21X, where DekaBank completed an on-chain secondary market trade on the Polygon testnet, validating the infrastructure for future tokenized asset exchanges under EU regulations.[36] This test underscored DekaBank's commitment to scalable, regulated digital trading platforms, paving the way for increased liquidity in tokenized markets.[37]Strategic Partnerships and Expansions
In October 2025, DekaBank expanded its existing partnership with Boerse Stuttgart Digital to develop cryptocurrency trading for retail customers of the Sparkassen-Finanzgruppe, building on the infrastructure previously used for institutional clients since February 2025.[26] This extension allows savings banks to offer secure, regulated access to digital assets like Bitcoin and Ethereum through DekaBank's platform, leveraging Boerse Stuttgart Digital's liquidity and custody solutions to meet growing demand among retail investors, with launch planned for 2026.[27] The collaboration aims to integrate crypto services seamlessly into the traditional banking ecosystem, enhancing product diversity without requiring individual banks to build their own infrastructure.[38] A significant milestone in DekaBank's tokenization efforts occurred in September 2025, when it completed its first on-chain secondary market trade with 21X, the operator of an EU-regulated trading and settlement system, on the Polygon testnet.[36] This transaction involved the transfer of a tokenized bond, demonstrating the feasibility of atomic settlement for digital securities and broadening DekaBank's ecosystem for tokenized assets.[39] The partnership with 21X positions DekaBank to support issuers and investors in expanding access to on-chain markets, with plans to transition to mainnet operations in subsequent phases. Throughout 2025, DekaBank pursued broader initiatives to enhance its digital product offerings for institutional clients, including partnerships that facilitate entry into new asset classes such as tokenized bonds. In August 2025, DekaBank collaborated with Union Investment and 360X to execute the first secondary market trade of Siemens' digital bond on a regulated DLT-based venue, underscoring its commitment to innovative distribution channels for sustainable and digital securities.[33] These efforts, combined with ongoing developments in crypto and tokenization, reflect DekaBank's strategy to diversify its institutional portfolio amid increasing adoption of digital finance solutions.[3]References
- https://en.wikipedia-on-ipfs.org/wiki/DekaBank