Deutsche Bank to Custody Bitcoin for European Institutions, Holding Clients' Private Keys
Deutsche Bank said on September 16 that it will offer custody of selected digital assets to corporate and institutional clients in Europe, naming bitcoin, ether and the USDC, EURC and EURAU stablecoins at launch, with tokenised financial instruments on its roadmap. The bank will "manage the wallets and private keys on clients' behalf." The release says clients can safeguard digital assets and transfer them to third parties. It does not mention trading. The service has not started. Deutsche Bank states go-live with first clients "this year subject to the completion of the applicable regulatory timeline." Several outlets reported the announcement as a launch. The release names no partner, referring only to "selected external technology and infrastructure providers for defined technical components." Taurus and Bitpanda have been named in earlier Bloomberg reporting relayed by trade press, not by Deutsche Bank here. Gerald Podobnik, Co-Head Corporate Bank, said digital assets are "not a replacement for the traditional financial system but an important complement to it."
Primary record: db.com