Deutsche Bank launches digital asset custody service in Europe
European banks are increasing their push into digital markets as institutional demand for regulated crypto infrastructure expands. Deutsche Bank says its digital asset custody service is now live for paying clients after outlining the plan in September, subject to regulatory approvals.
Highlights
- Deutsche Bank launched a digital asset custody service for institutional and corporate clients in Europe, supporting bitcoin and ether storage.
- Paul Maley stated Deutsche Bank plans to build a fully integrated, regulated ecosystem for custody, tokenisation, and settlement of digital assets.
- Deutsche Bank signed a memorandum of understanding with Deutsche Asset Management to explore further collaboration in the digital asset sector.
Custody rollout for institutional clients
As reported by Reuters, Germany's largest lender says the new service is aimed at institutional and corporate clients in Europe and supports the safekeeping and storage of digital assets, including bitcoin and ether.Paul Maley, global head of trust and securities services at Deutsche Bank, says the bank aims in the medium term to build a fully integrated, regulated ecosystem covering custody, tokenisation and settlement of digital assets.
Expansion plans and asset management tie-up
Deutsche Bank has previously told Reuters that it wants to expand the offering to Asia, pointing to broader ambitions beyond its initial European client base.The bank also says it has signed a memorandum of understanding with Deutsche Asset Management, the money manager it mostly owns and which until recently was known as DWS, to explore commercial and technical collaboration opportunities in the digital asset space.
This adds to earlier discussion around Deutsche Bank upgrade of Walmart stock as inflation boosted its value appeal and digital push.
Latest Deutsche Bank News
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