Deutsche Bank plans to bring its crypto custody service to Asia in 2027, extending its digital asset operations as it prepares to launch the service in Germany within weeks, according to the bank's corporate banking co-head.
The German banking giant received authorization from BaFin, Germany's financial regulator, under the EU's Markets in Crypto-Assets (MiCA) rules on October 12. The German launch remains subject to regulatory approval.
The custody service will allow corporate and institutional clients to hold and transfer cryptocurrencies, with Deutsche Bank managing the technology infrastructure and private keys needed to secure the assets.
Initial Service Offerings
Deutsche Bank's custody service will initially support bitcoin, ether, and stablecoins including USDC, EURC, and EURAU. The bank plans to expand offerings beyond custody to include stablecoin conversion, tokenized deposits, and services enabling clients to issue digital bonds and other blockchain-based securities.
Broader Growth Strategy
The Asia expansion is part of Deutsche Bank's plan to achieve roughly 8% compound annual revenue growth in its corporate bank from 2025 to 2028. The move would extend the custody service beyond Europe as banks seek a larger role in managing digital assets for institutional clients.
Deutsche Bank has collaborated with Bitpanda and Taurus on its custody infrastructure and joins competitors such as Standard Chartered and BBVA in offering crypto custody services to institutional clients.
