Deutsche Bank To Debut Bitcoin Custody for Institutional Clients

Bitcoin Magazine Deutsche Bank To Debut Bitcoin Custody for Institutional Clients Deutsche Bank said Wednesday that it would debut a bitcoin custody service for European corporate and institutional clients this year.  The German multinational said that the service was subject to the completion of the applicable regulatory timeline.

Deutsche Bank’s announcement comes as top banks worldwide launch crypto custody services. BNY Mellon, State Street, Standard Chartered, U.S. Bank, and Citigroup have all either launched or committed to direct crypto custody over the past 18 months.

“Digital assets are not a replacement for the traditional financial system but an important complement to it,” Gerald Podobnik, Co-Head Corporate Bank, Deutsche Bank, said in a statement.  “We see them as new rails that can coexist with existing market infrastructures while benefiting from the trust, security and safeguards that regulated financial institutions provide.

Our aim is to offer clients a secure and regulated gateway to this evolving market.