Deutsche Bank plans to introduce institutional Bitcoin and Ether custody in Germany within weeks, working with Swiss digital asset firm Taurus. The bank aims to add stablecoin conversions, to
Deutsche Bank plans to launch cryptocurrency custody services in Germany within weeks before expanding into Asian financial centers in 2027, according to Reuters. Gerald Podobnik, co-head of its corporate bank, said the initial offering will support major cryptocurrencies. The bank also plans stablecoin conversion services, tokenized deposits and blockchain-based securities as part of its corporate banking growth strategy.
https://twitter.com/WuBlockchain/status/2111055686054645920?s=20The initial service will allow institutional clients to hold major cryptocurrencies, including Bitcoin and Ether. Podobnik discussed the rollout during the IMF and World Bank meetings in Bangkok, according to Reuters.
The bank is working with Swiss digital asset technology firm Taurus to develop its custody services. Deutsche Bank partnered with Taurus in September 2023 to support its digital asset plans.
Additionally, the bank intends to expand beyond custody by helping clients move between traditional currencies and stablecoins. The planned services include fiat-to-stablecoin conversions, allowing customers to exchange conventional money for digital tokens.
Deutsche Bank also plans to offer tokenized deposits and help corporate clients issue blockchain-based securities, including digital bonds. These services would add blockchain-based options to its existing banking operations.
Podobnik said financial institutions need to offer tokenized and blockchain solutions alongside traditional services, rather than replace existing systems. He also pointed to the growth of the digital economy and hundreds of billions of dollars held in stablecoins.
The expansion forms part of Deutsche Bank’s target of achieving 8% compound annual growth in corporate banking by 2028. However, the bank has not provided a specific launch date for each planned service.
After introducing custody services in Germany, Deutsche Bank plans to expand the offering into Asian financial centers in 2027. The supplied reports do not confirm which markets will receive the service first.
The bank’s wider plans include crypto custody, stablecoin conversion, tokenized deposits and digital securities. According to Reuters, the rollout reflects its strategy to provide blockchain-based services alongside traditional banking products.
Deutsche Bank’s custody launch is expected within weeks, while its Asian expansion remains planned for 2027.
