Deutsche Bank says it will begin offering digital asset custody to institutional customers.
In a corporate statement, the bank said that it would launch its digital asset custody solution this year. European clients will gain access to regulated custody services for “selected digital assets.” At launch, Deutsche Bank will support Bitcoin and Ether, as well as several stablecoins, including USDC, EURC, and EURAU.
Gerald Podobnik, Co-Head Corporate Bank, said that digital assets are not a replacement for the traditional financial system but are complementary.
“Our aim is to offer clients a secure and regulated gateway to this evolving market.”
Deutsche Bank said the service depends on applicable regulatory requirements. Deutsche Bank’s custody launch is not a new CASP application but a notification to its home supervisor.
Multiple financial institutions already offer digital asset custody in Europe. Standard Chartered, BBVA, Société Générale and others offer custody, with some providing services for retail customers.
In Germany, Commerzbank was the first German full-service bank with a crypto custody license.
Beyond banks, multiple digital asset platforms also provide custody, including well-known names like BitGo, Börse Stuttgart Digital Custody, and others.
Providing crypto custody services that meet the needs of institutional and retail customers is quickly becoming the norm.