Deutsche Bank awaits regulatory approval for crypto custody solutions

Deutsche Bank, the largest financial institution in Germany, announced plans on September 16 to launch a digital-asset custody service for institutional and corporate clients across Europe. The service is pending regulatory approval from BaFin, Germany’s federal financial supervisory authority, under the EU’s Markets in Crypto-Assets Regulation framework. What Deutsche Bank is building The custody platform is designed to let institutional clients securely hold and transfer a curated list of digital assets. The initial lineup includes Bitcoin, Ether, and three stablecoins: USDC, EURC, and EURAU. Security features include hardware key protection, multi-person approval workflows, and segregated storage options. The target client base spans Deutsche Bank’s Corporate Bank and Investment Bank divisions. Think asset managers, hedge funds, custodians, brokers, and sovereign institutions. Gerald Podobnik, Co-Head of the Corporate Bank, framed the move as additive rather than revolutionary. Digital assets, in his view, complement existing financial market infrastructure instead of replacing it. Depending on client demand and internal risk assessments, the service could expand to include toke...