Deutsche Bank Prepares to Launch Regulated Crypto Custody Services

Deutsche Bank has announced plans to launch regulated digital asset custody services for institutional clients in Europe later this year. The bank, which manages $2.217 trillion in assets under management as of June 30, will support Bitcoin, Ether, and select stablecoins including USDC, EURC, and EURAU.

The service is still pending regulatory approval from Germany's BaFin, but it marks a significant step for the bank's efforts to integrate digital assets into its offerings. Deutsche Bank has been building towards this move since 2015, partnering with Taurus in 2023 to develop custody infrastructure.

The initial rollout will target clients from the bank's Corporate Bank and Investment Bank divisions, including asset managers, hedge funds, brokers, custodians, and sovereign institutions. Clients will not need to build their own infrastructure, as Deutsche Bank will manage wallets, private keys, and third-party transfers on their behalf.