dwpbank Relies on ESG Crypto Data from Crypto Risk Metrics to Meet MiCAR Requirements
- Decision to source data to effectively prevent potential greenwashing
- Compliance with the Markets in Crypto-Assets Regulation (MiCAR) is of great importance for regulated market participants
dwpbank Sources ESG Data for Digital Assets
Frankfurt am Main, October 15th, 2024. Deutsche WertpapierService Bank AG (dwpbank) relies on ESG crypto data from Crypto Risk Metrics going forward. These data are integrated into the wpNex platform, which facilitates trading in digital assets. As a result, Banks and savings banks can seamlessly and flexibly incorporate cryptocurrency trading, including Bitcoin, into their service offerings.
Sascha Dölker, Head of Digitalization at dwpbank, states: “We have been using Crypto Risk Metrics since the beginning of 2024 and have decided to also source ESG data for cryptocurrencies from them. This enables us to prevent potential greenwashing in the crypto sector. Our clients value receiving data from a neutral provider.”
Benefits of the partnership with Crypto Risk Metrics
Tim Zölitz, CEO der Crypto Risk Metrics, adds: “We are delighted that dwpbank is extending its partnership with us to include crypto ESG data. We also feel validated in our strategy of never accepting payments from blockchain protocols for calculating ESG metrics; the risk of conflicts of interest is simply too high for regulated financial market participants. Under MiCAR, they are ultimately responsible for the content of the data they report, and non-compliance can lead to significant penalties.”
MiCAR and the importance of ESG data
MiCAR requires so-called Crypto-Asset Service Providers to report various ESG metrics starting December 30, 2024. As a leading data provider in this field, Crypto Risk Metrics is, for example, the exclusive ESG data provider for the ISO 24165 allocation agency for the Digital Token Identifier Foundation. Furthermore, it collaborates with data providers such as Infront and the Stuttgart Stock Exchange to ensure seamless integration into existing systems.
Source: Press release Crypto Risk Metrics
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