Deutsche Bank, one of Germany's largest banks, has announced plans to launch a digital asset custody service by 2026.
Collaboration with Bitpanda
The bank has partnered with the technology unit of Austrian crypto exchange Bitpanda to develop its digital asset custody service.
Plans for Service Implementation
Deutsche Bank's corporate banking unit continues its collaboration with Switzerland-based technology provider Taurus SA to implement its custody service plans, first announced in 2022.
Growing Interest in Cryptocurrencies
The bank aims to create a comprehensive custody solution for institutional clients, leveraging the infrastructure of Taurus and integration services from Bitpanda. This move reflects the increasing interest in cryptocurrencies within the traditional financial sector.
The launch of Deutsche Bank's crypto custody service highlights the rising relevance of digital assets in traditional financial systems and the increasing investments of major banks in this sector.