Deutsche Bank Awaits Regulatory Approval for Crypto Custody Solutions
Deutsche Bank has announced plans to launch a digital-asset custody service for institutional and corporate clients across Europe. The service, pending regulatory approval from BaFin, will allow clients to securely hold and transfer a curated list of digital assets. The initial lineup includes Bitcoin, Ether, and three stablecoins: USDC, EURC, and EURAU.
The security features include hardware key protection, multi-person approval workflows, and segregated storage options. The target client base spans Deutsche Bank's Corporate Bank and Investment Bank divisions, including asset managers, hedge funds, custodians, brokers, and sovereign institutions.
Gerald Podobnik, Co-Head of the Corporate Bank, views digital assets as complementary to existing financial market infrastructure rather than a replacement. Depending on client demand and internal risk assessments, the service may expand to include tokenized financial instruments.