Deutsche Bank Aims to Enter Crypto Market with Crypto Custody Service

Deutsche Bank, Germany’s largest commercial bank, has recently taken a significant step towards embracing the rapidly expanding crypto market. The banking giant has submitted an application to the Federal Financial Supervisory Authority (BaFin) to offer a crypto custody service, catering primarily to institutional clients such as asset managers, fund managers, investment funds, and companies.

This move marks Deutsche Bank’s official entry into the digital asset space after conducting trials of digital asset custody services since late 2020.