Deutsche Bank is actively exploring tokenized deposit options and considering launching its own stablecoin, according to a Bloomberg report published Friday. The report cited an interview with Sabih Behzad, the bank’s head of digital assets and currencies transformation, who outlined the institution’s strategic approach to digital currency initiatives.
Behzad explained that banks have numerous pathways into the stablecoin market, ranging from serving as reserve managers to issuing their own digital currencies, either independently or through industry consortiums. While Deutsche Bank hasn’t yet announced its own tokenized deposit solution, the German institution participated in trials with UBS last year involving single bank tokens and continues evaluating whether to launch a stablecoin independently or join existing industry efforts.
The bank’s exploration comes as several major financial institutions have already moved into tokenized deposits. Citi, HSBC, JP Morgan and UBS have all launched single bank solutions, while Deutsche Bank has been participating in collaborative initiatives. These include the Partior cross border payments platform alongside DBS, JPMorgan, and Standard Chartered, as well as multi bank tokenized deposit experiments in Germany through the commercial bank money token initiative.
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