Deutsche Bank has launched its crypto custody service for institutional and corporate clients across Europe, enabling them to securely store and transfer digital assets while the bank manages the wallets and private keys. The formal rollout follows the bank securing the necessary regulatory approval, including a listing for crypto custody and transfer services under the European Union’s Markets in Crypto-Assets Regulation (MiCA) on October 12, with Germany’s BaFin acting as its primary regulator.
Through the new offering, institutional clients can hold Bitcoin, Ether, and a curated list of stablecoins. The supported stablecoins include Circle’s USDC and EURC, alongside AllUnity’s EURAU. The service is aimed at companies and institutions that require regulated, bank-grade custody rather than utilizing crypto-native platforms.
The launch builds on years of preparation, beginning with Deutsche Bank's partnership with Swiss crypto infrastructure provider Taurus in 2023 to develop the underlying technology after applying for a digital asset custody license in Germany. Gerald Podobnik, co-head of Deutsche Bank’s corporate bank, previously indicated that the service would begin in Germany before expanding to Asian financial centers in 2027.
Alongside the custody rollout, Deutsche Bank signed a memorandum of understanding with Deutsche Asset Management, its majority-owned asset manager. The two entities plan to explore collaboration on tokenized money market funds, crypto asset exchange-traded commodities, and stablecoins, indicating that the bank views custody as the first step in a broader digital asset strategy.
