Deutsche Bank said Wednesday that it would debut a bitcoin custody service for European corporate and institutional clients this year.
The German multinational said that the service was subject to the completion of the applicable regulatory timeline.
Deutsche Bank’s announcement comes as top banks worldwide launch crypto custody services. BNY Mellon, State Street, Standard Chartered, U.S. Bank, and Citigroup have all either launched or committed to direct crypto custody over the past 18 months.
“Digital assets are not a replacement for the traditional financial system but an important complement to it,” Gerald Podobnik, Co-Head Corporate Bank, Deutsche Bank, said in a statement.
“We see them as new rails that can coexist with existing market infrastructures while benefiting from the trust, security and safeguards that regulated financial institutions provide. Our aim is to offer clients a secure and regulated gateway to this evolving market. The service will be further developed in line with client demand, regulatory requirements and the bank’s risk appetite.”
Germany’s biggest lender added it would support a “selected range of digital assets,” other than bitcoin — including stablecoins.
“The range of supported assets may be expanded over time, subject to client demand and the bank’s product-approval, risk management and regulatory processes,” a statement added. “Tokenized financial instruments are also included in the roadmap.”
News first dropped of the bank working on debuting bitcoin custody services in 2025. A report said that the German banking giant would integrate Bitpanda’s custody infrastructure while working with Taurus to build the solution for corporate and institutional clients.
Just last month, Citi said it would this year debut a bitcoin custody service, allowing institutional investors to custody both traditional assets and bitcoin within one framework, rather than needing separate systems.