Deutsche Bank prepares for go-live of digital asset custody

Deutsche Bank is preparing to launch its digital asset custody business, with the first institutional and corporate clients expected to be onboarded later this year, subject to regulatory clearance. The service will initially support a select range of cryptocurrencies, including bitcoin and ether, as well as stablecoins like USDC and EURC, according to CoinDesk.

The bank is awaiting regulatory approval to launch institutional custody solutions, which is expected to be completed this year. Deutsche Bank plans to offer initial support for Bitcoin, Ether and select stablecoins, including Circle USDC, EURC and AllUnity EUR. According to Cointelegraph, the bank also plans to include support for tokenized financial instruments at a later point.

Deutsche Bank expects to receive the license for the custody offering in October, under the EU’s Markets in Crypto Assets framework, as reported by Cointelegraph. The development marks the German institution’s latest push into crypto, confirming earlier reports that it was developing crypto custody services.

Brief written by urgent.news from Finextra, CoinDesk, Cointelegraph, The Block, Investing.com — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.