Highlights
- Deutsche Bank officially launches Bitcoin and Ethereum custody services for institutional and corporate clients across Europe.
- Germany's largest lender plans to expand digital asset services into Asian markets and tokenization operations.
- Deutsche Bank signs an agreement with its asset management subsidiary to explore digital asset partnerships.
Deutsche Bank officially rolls out digital asset custody service, allowing paying clients to store bitcoins and Ethereum. Germany’s biggest lender is looking to further increase its cryptocurrency footprint and explore further services related to tokenization and digital payments.
Deutsche Bank Opens Bitcoin and Ethereum Custody Services
Deutsche Bank announced Wednesday that its digital asset custody service has started accepting paying clients. The launch follows its September announcement outlining plans to offer regulated cryptocurrency custody services across Europe.
It is a service to store digital assets in the bank’s custody service for institutional and corporate clients. Earlier in September, Deutsche Bank announced that it would support a number of cryptocurrencies on its platform, including Bitcoin and Ethereum.
The lender said at the time it would be available after it received the necessary regulatory approvals. German giant Deutsche Bank has announced that its platform is now available, and it will soon expand into digital asset tokenization and transaction settlement.
Paul Maley, the bank’s global head of trust and securities services, outlined its plans for digital assets. “In the medium term we aim to deliver a fully integrated, regulated ecosystem,” Maley said.
He explained that the bank intends to bring custody, tokenization, and settlement services together under regulated operations.
Deutsche Bank Plans Digital Asset Expansion Into Asia
Deutsche Bank plans to expand its digital asset custody service to Asia after it went live in Europe.After going live in Europe, Deutsche Bank is planning to expand into Asia with its digital asset custody service.
The lender earlier announced the expansion plans in the region but has not announced any confirmed launch date.
Meanwhile, other financial institutions are pursuing regulatory approvals to expand their cryptocurrency custody and related financial operations.
Earlier, Galaxy Digital applied for a US national trust bank charter, seeking to develop federally regulated financial services.
Galaxy’s plan includes the application, which is the part of the bank’s expansion under the watch of the U.S. banking authority.
Deutsche Bank Signs Digital Asset Agreement With Asset Management Unit
Alongside the custody launch, Deutsche Bank announced an agreement with its asset management subsidiary, Deutsche Asset Management.
The company, which was formerly DWS, will look into commercial and technical cooperation relating to digital asset services.
The memorandum of understanding includes proposed cooperation in the field of digital finance in various areas, the bank said.
Meanwhile, Chainlink partnered with Anchorage Digital to introduce CustodySync, connecting institutional custody assets with decentralized lending markets.
The service leverages Anchorage’s collateral management systems and Chainlink’s blockchain-based verification and pricing mechanisms.
Deutsche Bank has not disclosed financial terms or a launch schedule for projects under its asset management agreement.
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