Deutsche Bank Readies Digital Asset Custody Service for Institutional Clients

Deutsche Bank is preparing to launch a digital-asset custody service for institutional and corporate clients across Europe, pending regulatory approval from BaFin. The bank has been working on this project for three years and submitted its application in 2023.

The custody platform will allow clients to securely hold and transfer a curated list of digital assets, including Bitcoin, Ether, and three stablecoins: USDC, EURC, and EURAU. Initial security features include hardware key protection, multi-person approval workflows, and segregated storage options.

According to Gerald Podobnik, Co-Head of the Corporate Bank, this move is additive rather than revolutionary, as digital assets complement existing financial market infrastructure instead of replacing it. Depending on client demand and internal risk assessments, the service could expand to include tokenized financial instruments.