Cryptoupdated 1h ago2 min read
Deutsche Bank Prepares Crypto Custody Launch In Germany, Targets Bitcoin And Ether Growth
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Deutsche Bank is weeks away from launching its crypto custody service in Germany. Initial custody will cover Bitcoin and Ethereum, with plans for stablecoin conversions.
Deutsche Bank readies custody
Deutsche Bank is weeks away from launching its first digital asset service, with the bank preparing a crypto custody offering in Germany as it seeks to tap growth in the digital economy, its corporate banking chief told Reuters. Gerald Podobnik said the phased rollout will initially support custody of major cryptocurrencies such as bitcoin and ether before expanding to services that help clients move money into and out of mainstream stablecoins.
Podobnik also said Deutsche Bank plans to offer tokenised deposits and help clients issue blockchain-based securities such as digital bonds. Podobnik framed the effort as additional services alongside traditional ones, not necessarily a replacement for what the bank is doing today.
Assets, wallets, and stablecoins
Deutsche Bank’s initial custody service is described as supporting Bitcoin (BTC), Ether (ETH) and select stablecoins, including Circle USDC (USDC), EURC (EURC) and AllUnity EUR (EURAU), according to a Sept. 16 press release cited in the reporting.
A Deutsche Bank spokesperson said the bank expects to receive regulatory approval for the custody offering in October under the Markets in Crypto-Assets Regulations (MiCA).
The European Securities and Markets Authority’s interim MiCA register showed that Deutsche Bank received authorization from Germany’s Federal Financial Supervisory Authority (BaFin) on Monday, as described in the Cointelegraph account.
Cointelegraph said it contacted Deutsche Bank for comment on which Asian financial centers it plans to target first, but it had not received a response by the time of publication.
Asia expansion and growth goals
After the launch in Germany, Deutsche Bank plans to expand the custody platform into Asian financial centres next year, Podobnik said on the sidelines of the IMF and World Bank meetings in Bangkok. The move forms part of Deutsche Bank’s broader strategy to achieve compound annual growth of 8% in corporate banking by 2028.
Podobnik said the bank cited the rapid growth of the digital economy, including hundreds of billions of dollars held in stablecoins, as evidence that new pools of value have emerged. Deutsche Bank plans to expand into major Asian financial markets in 2027, with an initial offering supporting Bitcoin (BTC) and Ethereum (ETH) and a later service to convert fiat currencies into stablecoins.