Deutsche Bank Launches Digital Asset Custody Service

Deutsche Bank launched a digital asset custody service on Wednesday for its institutional and corporate clients. The service provides safekeeping and storage for digital assets, specifically bitcoin and ether, following regulatory approvals for the European market.

The rollout follows an initial announcement in September. The bank intends to expand these offerings into Asia in the future. Paul Maley, global head of trust and securities services, stated that the bank aims to deliver a fully integrated, regulated ecosystem that supports the custody, tokenisation, and settlement of digital assets in the medium term.

To further its digital strategy, the bank signed a memorandum of understanding with DWS Group, a money manager it mostly owns. The two organizations will explore commercial and technical collaborations within the digital asset space.