Germany’s largest bank is preparing to enter the digital asset custody market. According to Bloomberg, Deutsche Bank AG is working on launching its own crypto and token custody service. The platform could go live as early as next year. For this initiative, the bank is collaborating with Austrian platform Bitpanda and Swiss fintech company Taurus.
Technical Implementation With Bitpanda Technology Solutions
The project is being developed by Deutsche Bank’s corporate division, which oversees banking solutions for business clients. For the technical implementation, the bank has engaged Bitpanda Technology Solutions, the infrastructure arm of the Bitpanda exchange. Representatives from both companies have declined to comment.
It is also confirmed that Deutsche Bank is continuing its partnership with Taurus SA, a Swiss provider of tokenization and digital asset custody infrastructure. In 2023, Deutsche Bank was one of the participants in Taurus’s $65 mln funding round.
Growing Interest in Digital Assets and Bank-Issued Tokens
This initiative is unfolding amid rising interest from major financial institutions in cryptocurrencies. New regulatory frameworks in Europe and growing political support in the United States are making the market more predictable for traditional players. Notably, Bitcoin’s price has strengthened following the re-election of Donald Trump, who appointed pro-crypto figures to key positions and started promoting stablecoin regulation through the GENIUS Act.
Earlier in June, Deutsche Bank stated it is exploring various forms of digital currencies, from stablecoins to tokenized deposits. Among the options under review is the issuance of a proprietary token or participation in broader industry initiatives. The bank is also evaluating the possibility of launching tokenized deposits for use in payment operations.
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