Deutsche Bank Nears Approval for Institutional Crypto Custody Solutions

Deutsche Bank is on track to launch its institutional crypto custody solutions for European clients after securing regulatory approval. The bank plans to offer support for Bitcoin (BTC), Ether (ETH), and select stablecoins, including Circle USDC (USDC), EURC (EURC) and AllUnity EUR (EURAU). This move marks the latest development in Deutsche Bank's push into crypto, following earlier reports of its consideration of entering the stablecoin market.

The bank's digital asset custody license application is expected to be approved by October under the EU's Markets in Crypto Assets (MiCA) framework. MiCA reached full enforcement on July 1, and other German banks have also begun offering similar solutions after partnering with companies like Bitpanda and Taurus.