Deutsche Bank plans to launch cryptocurrency custody services within weeks, beginning with Bitcoin and Ethereum, marking the expansion of Germany's largest bank into digital asset services for institutional clients.
Gerald Podobnik, co-head of Deutsche Bank's corporate bank, confirmed the launch during International Monetary Fund and World Bank meetings in Bangkok. The initial service will be available to institutional clients including asset managers, hedge funds, and companies seeking to hold Bitcoin and Ethereum through the bank.
The bank is partnering with Taurus, a Swiss digital asset technology firm, to support its custody operations. Deutsche Bank led a $65 million funding round for Taurus in 2023 and has since worked to integrate the company's technology into its digital asset strategy.
Expansion Plans Beyond Custody
Deutsche Bank intends to expand its digital asset offerings beyond custody services. Future plans include fiat-to-stablecoin conversion services, tokenized deposits, and assistance for corporate clients in issuing blockchain-based securities, including digital bonds.
Podobnik views digital assets as part of the corporate bank's growth strategy, which targets 8% growth by 2028.
Asian Market Entry in 2027
Following its Germany launch, Deutsche Bank plans to expand into Asian financial centers in 2027, with Singapore and Hong Kong identified as target markets. The expansion would leverage the bank's existing corporate banking presence in the region and support its broader digital asset service offerings.
The timing and scope of services will be subject to regulatory requirements and the bank's implementation plans.
