Deutsche Bank has launched its cryptocurrency custody service for institutional and corporate clients in Europe. The service allows eligible customers to store and transfer Bitcoin, Ethereum, and selected stablecoins through the German banking group.
The platform supports Bitcoin, Ethereum, USDC, EURC, and EURAU. The bank manages clients’ digital wallets and private keys through its custody infrastructure.
Clients can access the service through Deutsche Bank’s Autobahn corporate banking system. The bank protects clients’ private keys through hardware security and offers warm wallets, cold wallets and multiple approval controls.
Deutsche Bank has partnered with Swiss technology provider Taurus since 2023 to develop its digital asset custody and tokenisation infrastructure.
The bank offers the service to institutional investors, asset managers, hedge funds, brokers, corporations and sovereign institutions. The initial launch excludes retail customers and focuses on paying institutional and corporate clients.
Deutsche Bank has not identified its first custody customers or announced how much clients will pay for the service. The initial platform only supports cryptocurrency storage and transfers, excluding trading and exchange services.
What Are Deutsche Bank Plans for Crypto Expansion?
Deutsche Bank received its Markets in Crypto-Assets Regulation registration on October 12. Germany’s financial regulator, BaFin, recorded its permission to provide crypto custody and transfer services.
BaFin’s registration allows Deutsche Bank to provide authorised crypto custody and transfer services in Germany and eligible European markets. The bank has not included tokenised securities or cryptocurrency exchange services in its initial product offering.
Deutsche Bank plans to enter major Asian financial centres in 2027 as it expands its cryptocurrency custody business beyond Europe. The bank also plans to develop services for stablecoin conversions, tokenised deposits and digital bond issuance.
Paul Maley, Deutsche Bank’s global head of trust and securities services, said the bank wants to expand into tokenisation and digital asset settlement.
“In the medium term we aim to deliver a fully integrated, regulated ecosystem that supports the custody, tokenisation, and settlement of digital assets,” Maley said.
Gerald Podobnik, Deutsche Bank’s co-head of corporate banking, attributed the expansion plans to rising institutional demand for digital assets. Podobnik also linked the initiative to Deutsche Bank’s plan to grow corporate banking revenue.
Deutsche Bank aims to increase its corporate banking revenue by approximately 8% annually between 2025 and 2028. The bank includes its digital asset business in its wider corporate banking expansion strategy.
On November 11, Deutsche Bank announced a memorandum of understanding with Deutsche Asset Management. The agreement allows both businesses to explore joint digital asset products and technical services. Neither business has announced specific products or timelines for the proposed cooperation.
Banks Expand Their Digital Asset Services
The bank joins BNY and State Street among traditional financial institutions developing cryptocurrency custody services for institutional customers. Both banks have also developed digital asset services. Firms such as BitGo and Anchorage Digital are also competing for institutional clients seeking cryptocurrency custody services.
Meanwhile, Deutsche Bank, Goldman Sachs, Citigroup, and Banco Santander are among financial institutions backing a proposed stablecoin venture. The 21-member consortium has secured approximately $270 million in commitments to finance its planned stablecoin operations. The consortium plans to introduce a US dollar-backed stablecoin in the first half of 2027 before considering a euro version.
