BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home BUSINESS

Deutsche Bank Ventures into Crypto Custodial Services

by BlockNews Team
September 28, 2023
in BUSINESS, CRYPTO, FINANCE
Reading Time: 3 mins read
A A
1
SHARES
17
VIEWS
Share on XShare in TelegramShare on Reddit

At the 26th annual dbAccess German Swiss Austrian Conference, Deutsche Bank AG, Germany’s largest bank, announced that it has applied with the Federal Financial Supervisory Authority (BaFin) of Germany for a license to offer custodial services for digital assets.

This move is part of the bank’s broader strategy to increase fee income for its Corporate Bank. It also aligns with the bank’s efforts to generate revenue through digital asset-related offerings for its investment arm, DWS Group.

This is not Deutsche Bank’s first venture into digital asset custodial solutions. The bank made a similar attempt in 2020, but the launch timeline for these services remains unspecified.

The timing of Deutsche Bank’s move is strategic, considering the increasing participation of institutional players in the crypto space.

Institutional Trends

As major players like BlackRock and Fidelity express their intentions to enter the crypto market, the demand for regulated custodial service providers is expected to surge. Deutsche Bank aims to cater to this growing demand by positioning itself as a custodial services provider.

Deutsche Bank decided to explore crypto custodial services after the bank faced a liquidity crisis earlier this year during the Credit Suisse fallout. In parallel with Deutsche Bank’s efforts, German regulators have been working to ease crypto staking and lending rules. Additionally, regulatory developments, such as the MiCA framework, are expected to bring further clarity to the crypto landscape.

The adoption of cryptocurrencies among German citizens has been steadily increasing and is likely to rise further with improved regulatory clarity.

Several institutions in the broader financial industry have been expanding their services by integrating crypto products. Deutsche Bank joins this trend, seeking to enhance its fee income through digital asset custody. Notable players like the Bank of New York Mellon and BNP Paribas already offer crypto safekeeping services.

Ripple’s acquisition of Swiss custody firm Metaco and Standard Chartered’s fundraising for Zodia Custody are further indications of the growing importance of crypto custody.

Conclusion

Deutsche Bank’s recent application for a digital asset license from Germany’s securities watchdog, BaFin, demonstrates its commitment to developing its digital assets and custody business.

By entering the crypto custodial space, Deutsche Bank aims to position itself as a credible and trusted player, opening the door for greater institutional participation in the digital asset ecosystem. Despite regulatory challenges, the bank’s move signals its recognition of cryptocurrencies’ long-term potential and significance in the financial landscape.

Tags: Central BankCrypto Custodial ServicesDeutsche BankSwitzerland
TweetShareShare
Previous Post

Airphoria Sneakerhunt – Nike’s Upcoming Metaverse Collaboration with Fortnite

Next Post

Crypto Community Rallies Behind ZachXBT, Donates Over $1 Million In Support Of His Legal Fees In An Ongoing Defamation Suit

DON'T MISS THESE! HOT OFF THE PRESS

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling
CRYPTO

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Pi Coin in July 2025: Rebound Brewing or Another Breakdown?
CRYPTO

Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

July 1, 2025
VeChain Struggles to Regain Steam After December Peak
CRYPTO

VeChain Struggles to Regain Steam After December Peak

July 1, 2025
Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party
CRYPTO

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Toncoin and Telegram: The Sleeping Giant of 2025?
BITCOIN

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL
BITCOIN

Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL

July 1, 2025
Load More

Related News

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

July 1, 2025
VeChain Struggles to Regain Steam After December Peak

VeChain Struggles to Regain Steam After December Peak

July 1, 2025
Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Toncoin and Telegram: The Sleeping Giant of 2025?

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.