Deutsche Bank goes live with digital asset custody for institutional and corporate clients
What is new: Deutsche Bank's digital asset custody service, announced in September pending approval, is now live for institutional and corporate clients.
What is new: Deutsche Bank's digital asset custody service, announced in September pending approval, is now live for institutional and corporate clients. The bank holds clients' wallets and private keys, so they can store and transfer crypto through it.
At launch it supports bitcoin, ether and selected stablecoins: Circle's USDC and EURC, and AllUnity's EURAU. Deutsche Bank's entry in the EU MiCA register for crypto custody and transfer services is dated 12 October, with BaFin as regulator. The custody technology comes from Taurus, which the bank partnered with in 2023.
The bank also signed a memorandum of understanding with Deutsche Asset Management to explore tokenised money market funds, crypto exchange-traded commodities and stablecoins. Gerald Podobnik, co-head of the corporate bank, has said Asian financial centres follow in 2027.