Deutsche Bank said Wednesday that it will debut a bitcoin custody service for European corporate and institutional clients this year, pending completion of the applicable regulatory timeline.
The announcement positions the German multinational among major global banks launching crypto custody offerings. 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.
Gerald Podobnik, Co-Head Corporate Bank at Deutsche Bank, said in a statement: "Digital assets are not a replacement for the traditional financial system but an important complement to it. 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."
The bank will support a selected range of digital assets beyond bitcoin, including stablecoins. According to the statement, "The range of supported assets may be expanded over time, subject to client demand and the bank's product-approval, risk management and regulatory processes. Tokenized financial instruments are also included in the roadmap."
Deutsche Bank previously announced plans to debut bitcoin custody services in 2025, integrating Bitpanda's custody infrastructure while working with Taurus to build the solution for corporate and institutional clients.
The move follows Citigroup's announcement last month that it would launch a bitcoin custody service this year, allowing institutional investors to custody both traditional assets and bitcoin within a single framework.
