Germany’s largest financial institution, Deutsche Bank, is gearing up to roll out cryptocurrency custody accounts by next year, according to sources cited by Bloomberg.
The bank is expected to introduce a digital asset custody platform in 2026 through a collaboration with Bitpanda Technology Solutions — the infrastructure arm of the Austria-based crypto exchange. Additionally, Swiss tech firm Taurus, which is backed by Deutsche Bank, will also reportedly play a key role in the project.
This would not be the first time Deutsche Bank has explored digital asset storage. The institution originally signaled interest in entering the crypto custody space back in 2020, marking a continued push into the evolving digital finance sector.
Growing Focus on Digital Assets
In recent years, Deutsche Bank has been steadily increasing its presence in the cryptocurrency space. Earlier this June, Sabih Behzad, the bank’s head of digital assets, revealed that the firm is evaluating opportunities in the stablecoin market — including the potential to issue its own stablecoin or participate in collaborative initiatives.
“There is strong momentum behind stablecoins, particularly as regulatory clarity improves, especially in the United States,” Behzad stated. He noted that banks have a variety of entry points into the stablecoin ecosystem, such as acting as custodians of reserves or launching proprietary tokens.
The bank is also examining the feasibility of launching a tokenized deposit system aimed at enhancing payment processes.
Ongoing Crypto Development
Deutsche Bank’s interest in blockchain and digital assets isn’t new. By late 2023, reports surfaced that the bank was exploring the creation of a layer-2 blockchain solution built on Ethereum, leveraging zero-knowledge (ZKsync) technology.
Following its application for a crypto custody license in Germany in 2023, Deutsche Bank confirmed its intention to partner with Taurus to bring custody services to market. Furthermore, since mid-2024, Deutsche Bank has worked with Bitpanda to optimize crypto payment solutions on the exchange.
The move comes shortly after another major German banking group, Sparkassen-Finanzgruppe, revealed plans to offer cryptocurrency trading services to its vast customer base of 50 million people.
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