$1.7T Deutsche Bank Prepares for Crypto Custody Launch

Deutsche Bank, one of Europe's largest banks with $1.7 trillion in assets, is set to launch a crypto custody service later this year.

The new service will initially cover Bitcoin, Ethereum, and selected stablecoins such as USDC for institutional and corporate clients in Europe.

The bank plans to hold wallets and private keys on behalf of clients, preventing them from building and running their own custody stacks while keeping the service inside a regulated bank framework.

Deutsche Bank's co-head of corporate bank, Gerald Podobnik, said that digital assets are not a replacement for traditional financial systems but an important complement to it.