Deutsche Bank to launch institutional crypto custody service

Deutsche Bank, Germany’s largest bank, plans to launch a digital asset custody service for institutional and corporate clients in Europe later this year, pending regulatory approval. The service is expected to operate under the European Union’s Markets in Crypto Assets (MiCA) framework.

The initial offering will support Bitcoin, Ethereum, and selected stablecoins or e-money tokens, including USDC, EURC, and EURAU. The bank intends to hold wallets and private keys on behalf of clients to provide a regulated framework for asset management. Future plans include expanding the service to include tokenized financial instruments.

The target market includes asset managers, hedge funds, brokers, and sovereign institutions within the bank’s Corporate and Investment Bank divisions. This move follows previous indications that the bank was developing these services and exploring the stablecoin market.