Deutsche Bank Prepares Crypto Custody Service for Institutional Clients
Deutsche Bank is set to launch its crypto custody service for institutional and corporate clients later this year, pending regulatory approval. The German bank plans to initially support Bitcoin, Ether, and selected stablecoins, including USDC, EURC, and EURAU.
Clients will be able to hold their digital assets and transfer them through infrastructure managed by Deutsche Bank, with the bank managing customers' wallets and private keys.
The initial customer base will include corporates, asset managers, hedge funds, custodians, brokerage firms, and sovereign institutions that already operate within its Corporate Bank and Investment Bank ecosystem and compliance framework.
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's 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.