Germany’s Biggest Bank Goes Crypto: Deutsche Bank Launches Bitcoin Custody
Deutsche Bank has officially launched crypto custody for Bitcoin , Ethereum , and stablecoins. The service went live on Wednesday, two months after the bank first announced it.The move makes Germany’s largest lender a direct player in institutional digital asset services across Europe.What Deutsche Bank’s New Crypto Custody Service OffersCrypto custody is a service in which a regulated institution safeguards digital assets for clients. It manages private keys and wallets on their behalf.According to Reuters, Deutsche Bank confirmed the launch on Wednesday. The service supports , , and three stablecoins and e-money tokens.These include USDC, EURC, and EURAU, a euro token from AllUnity. The bank also handles safekeeping and transfers, though tokenized financial instruments remain on the roadmap. The service relies on multi-layer key management controls.However, retail investors cannot access the service. Instead, it targets corporate and investment bank clients, including asset managers, hedge funds, brokers, and sovereign institutions.The launch follows a long road. Deutsche Bank applied to the German regulator BaFin in June 2023, roughly 41 months ago. Notably, Commerzbank secured a custody license in 2023, while three other German applicants won approval during that wait.What Comes Next for Deutsche Bank’s Crypto Push?The bank announced the service in September, conditional on completing the regulatory timeline. At the time, Co-Head of the Corporate Bank Gerald Podobnik called digital assets an “important complement” to traditional finance.In October, Podobnik told reporters that the service would launch in Germany first. Meanwhile, its MiCA authorization now extends across all 30 European Economic Area states.Looking ahead, Deutsche Bank plans to expand into Asian financial centers in 2027. It also aims to add stablecoin conversion services, tokenized deposits, and digital bond issuance. The expansion supports the bank’s goal of 8% annual growth in corporate banking by 2028.Notably, the bank also signed a memorandum of understanding with Deutsche Asset Management on Wednesday. The agreement explores further collaboration on digital assets. The launch also follows a record third-quarter profit of €1.9 billion (about $2.1 billion).