Deutsche Bank Prepares Institutional Crypto Custody Launch
Germany’s largest bank is set to roll out a regulated digital asset custody service for European institutional and corporate clients by the end of the year.
Deutsche Bank is nearing the launch of a digital asset custody service, aiming to provide European institutional and corporate clients with a regulated way to hold crypto. The service is expected to go live by the end of the year, pending the completion of necessary regulatory checks.
At launch, the platform will support a limited range of assets. This includes Bitcoin and Ether, as well as the stablecoins USDC and EURC.
Gerald Podobnik, co-head of the corporate bank at Deutsche Bank, stated that digital assets are an important complement to the traditional financial system rather than a replacement. He described them as new rails that will coexist with existing market infrastructure, noting that the service will be developed based on client demand, regulatory requirements, and the bank’s risk appetite.
The move aligns Deutsche Bank with other European financial institutions like Standard Chartered and BBVA, which have already entered the regulated crypto custody space. As institutional interest in digital assets grows, firms are increasingly looking to utilize custody services provided by the same institutions they already trust with their traditional portfolios.
Reports from last July indicated that the bank had been preparing this service in collaboration with the exchange Bitpanda.
