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The German lender is moving fast with its crypto custody service
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German multinational Deutsche Bank is weeks away from its crypto custody service, according to reports.
Key facts
- Top banks worldwide are debuting or planning to debut crypto custody services, with BNY Mellon, State Street, Standard Chartered, U.S. Bank, and Citigroup all committing to direct crypto custody
- The German lender is moving fast with its crypto custody service
- German multinational Deutsche Bank is weeks away from its crypto custody service, according to reports
- Gerald Podobnik, co-head of the corporate bank, was quoted by Reuters saying that the financial system will need to “offer tokenized or blockchain solutions
Summary
The lender, which is Germany’s biggest, also plans to expand the custody platform into Asia next year, according to a Friday which quoted its corporate banking chief. Top banks worldwide are debuting or planning to debut crypto custody services, with BNY Mellon, State Street, Standard Chartered, U.S. Bank, and Citigroup all committing to direct crypto custody over the past 18 months. Deutsche Bank first officially announced plans to debut a bitcoin custody service for European corporate and institutional clients in September, with the German multinational at the time saying service was subject to the completion of the applicable regulatory timeline. Friday’s report added that the service will support custody of major cryptocurrencies such as bitcoin before moving to services that help clients move money into and out of stablecoins.