Today Bloomberg reported that Deutsche Bank intends to launch cryptocurrency custody services next year, citing sources. It plans to partner with Bitpanda Technology Services, an arm of the European crypto exchange. The bank will combine this partnership with its existing relationship with Taurus for custody technology.
While it was not in the Bloomberg report, the arrangement may split responsibilities, with Bitpanda handling trading services and Deutsche Bank providing custody, following established industry patterns. Several German institutions have already developed crypto services.
For example, Commerzbank landed its custody license in 2023 and launched its offering for corporate clients last year. Apart from offering custody internally, it also provides trading services via an alliance with Deutsche Börse owned Crypto Finance.
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