Deutsche Bank, the largest lender in Germany, is preparing to launch its cryptocurrency custody service within the coming weeks. The bank initially announced its intention to provide these services to corporate and institutional clients in Europe back in September.
The platform will initially support major digital assets, including bitcoin. Following the launch, the bank plans to expand its custody capabilities to include services for stablecoins, enabling clients to manage inflows and outflows of these assets.
The bank intends to scale its custody platform into the Asian market by next year. This move aligns with a broader industry trend, as major financial institutions such as BNY Mellon, State Street, Standard Chartered, U.S. Bank, and Citigroup have all committed to digital asset custody over the last 18 months.
