Deutsche Bank Enters Crypto Custody Market with Institutional Clients

Deutsche Bank is launching a crypto custody service for institutional clients, initially supporting Bitcoin, Ether, USDC, EURC, and EURAU. The service will allow clients to hold and transfer digital assets through infrastructure managed by Deutsche Bank.

The German bank said the service will be available to corporates, asset managers, hedge funds, custodians, brokerage firms, and sovereign institutions within its Corporate Bank and Investment Bank ecosystem.

Deutsche Bank has been working on its digital asset custody plans for several years and has partnered with Taurus to support its cryptocurrency custody plans. The bank will manage customers' wallets and private keys, removing the need for clients to build their own custody systems.

The setup will use hardware-based protection for private keys, multi-person approvals, separate warm and cold storage environments, as well as backup and recovery controls.