Deutsche Bank Readies Crypto Custody in Germany, Eyes Asian Hubs
The German bank plans to offer bitcoin and ether custody to corporate and institutional clients, with expansion to Asia expected in 2027.
Markets Editor: Fabricio Marcilio 1 min read
Deutsche Bank plans to soon launch a crypto asset custody service in Germany. The offering will begin with bitcoin and ether, along with the USDC, EURC and AllUnity EUR stablecoins. Expansion to Asian financial centers is slated for 2027.
According to Gerald Podobnik, co-head of the bank's corporate division, the growth of the digital asset economy is driving the plan. The sector holds hundreds of billions of dollars in stablecoins. He said the initiative is part of the bank's target of 8% compound annual growth in its corporate business through 2028.
A bank spokesperson said the service is expected to receive regulatory approval in October under Europe's crypto rules, known as MiCA. A provisional register from the European markets authority shows the bank has received authorization from the German regulator, BaFin.
Deutsche Bank had already partnered with the Taurus platform in 2023 to support its custody plans. So far, the bank has not said which Asian hubs will be served first.
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