Deutsche Bank to Launch Digital Asset Custody Service for Institutional Clients

Deutsche Bank is set to launch a digital asset custody service for institutional and corporate clients in Europe later this year. The bank will manage wallets and private keys on behalf of its clients, allowing them to move their holdings to third parties without having to build and maintain their own custody infrastructure.

The service will initially cover a range of assets including Bitcoin, ether, stablecoins such as USDC and EURC, and e-money tokens like EURAU. Tokenized financial instruments are also on the bank's roadmap for future development.

Gerald Podobnik, Co-Head of Deutsche Bank's Corporate Bank, described the move as an extension of the existing financial system rather than a replacement for it.