Deutsche Bank Launches Digital Asset Custody for Institutions

Deutsche Bank has launched its digital asset custody service for paying clients, bringing institutional-grade safekeeping of cryptocurrencies into its regulated banking infrastructure. The service targets institutional and corporate customers in Europe and supports assets including Bitcoin and Ether. The launch gives Deutsche Bank clients direct access to regulated institutional crypto custody through one of Europe’s largest banks.

The bank initially announced the service in September pending regulatory approvals. Deutsche Bank said its medium-term objective is to build an integrated and regulated ecosystem covering custody, tokenization and settlement of digital assets. The live custody platform represents the first operational step toward that broader digital-asset infrastructure strategy, while the bank has also previously indicated plans to expand the offering into Asia.

Deutsche Bank also signed a memorandum of understanding with Deutsche Asset Management, formerly known as DWS, to explore broader commercial and technical collaboration in digital assets. The next milestone will be expansion beyond basic custody into tokenization, settlement and additional regional markets. Client adoption and the range of supported assets will provide the clearest indicators of how quickly the platform scales.

Source: Reuters.

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