Deutsche Bank expands digital asset plans
Expansion plans highlight how traditional banks adapt to tokenised products and rising demand for secure crypto custody.
The German banking giant has applied for a digital asset custody licence from BaFin, marking a significant step in its expansion into cryptocurrency services. The move positions Deutsche Bank to offer safekeeping solutions for clients seeking exposure to digital assets.
Plans form part of a broader strategy to build a dedicated digital assets division, according to David Lynne, a commercial banking executive. DWS Group’s initiatives highlight rising institutional interest in crypto partnerships in Germany.
Previous experimentation includes a tokenised investment platform developed in Singapore with Memento Blockchain, enabling access to digital asset funds through fiat on-ramps.
Activity mirrors wider domestic momentum, as Deutsche WertpapierService Bank has already launched crypto infrastructure linking traditional and digital accounts.
Regulatory clarity and growing client demand appear to be key drivers, with Deutsche Bank signalling a cautious yet deliberate approach to integrating cryptocurrencies into its mainstream banking services.
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