Deutsche Bank Prepares to Offer Institutional Crypto Custody in Europe

Deutsche Bank has announced plans to launch its digital asset custody service for European corporate and institutional clients. The bank will initially support Bitcoin (BTC), Ether (ETH), and select stablecoins, including USDC, EURC, and EURAU.

The service is set to be launched this year, pending regulatory clearance. Deutsche Bank has been developing its digital asset custody offering for years and has partnered with Taurus to provide custody services for institutional clients' cryptocurrencies.

Gerald Podobnik, Co-Head of Corporate Bank at Deutsche Bank, stated that digital assets are 'not a replacement for the traditional financial system' but a complement to existing market infrastructure.