Deutsche Bank to launch crypto custody for Bitcoin, Ether, stablecoins

Gerald Podobnik, co-head of corporate bank at Deutsche Bank, stated that digital assets are an important complement to the traditional financial system, acting as new rails that can coexist with existing market infrastructures. Deutsche Bank will hold wallets and private keys on behalf of clients, aiming to provide a regulated banking framework for digital asset custody. The bank intends to expand the range of supported crypto assets over time, including tokenized financial instruments, based on client demand, regulatory requirements, and its risk appetite.

The initial target market includes clients of Deutsche Bank’s Corporate Bank and Investment Bank in Europe, such as corporates, asset managers, hedge funds, custodians, brokers, and sovereign institutions. This move follows a trend among major European financial institutions, including BBVA, Société Générale-FORGE, DekaBank, and Standard Chartered, which have also expanded their crypto custody, trading, or tokenization initiatives, particularly since the implementation of the MiCA regulation. Wall Street giant Citi is also reportedly preparing to launch institutional digital asset custody services later this year, starting with Bitcoin.