Germany’s largest lender, Deutsche Bank, has launched its digital asset custody service for paying clients, marking another step in its expansion into digital financial markets as European banks increasingly explore opportunities in the sector.
The bank had initially announced plans for the service in September, targeting institutional and corporate clients across Europe, subject to regulatory approvals. The offering is designed to provide secure safekeeping and storage of digital assets, including Bitcoin and Ether.
Commenting on the development, Paul Maley, Global Head of Trust and Securities Services at Deutsche Bank, said, “In the medium term we aim to deliver a fully integrated, regulated ecosystem that supports the custody, tokenisation, and settlement of digital assets.”
The bank has also indicated plans to expand the service into Asia, reflecting its broader ambitions in the digital asset market.
In a separate development, Deutsche Bank announced that it had signed a memorandum of understanding with Deutsche Asset Management, the money management business it mostly owns and which was until recently known as DWS.
The agreement will allow both organisations to explore comprehensive commercial and technical collaboration opportunities in the digital asset space.
The launch highlights Deutsche Bank’s efforts to strengthen its digital asset capabilities and develop regulated services for institutional investors as traditional financial institutions expand their participation in digital markets.
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