Deutsche Bank to Launch Crypto Custody Service in 2025
Deutsche Bank, Germany’s largest financial institution, is preparing to deepen its involvement in the cryptocurrency space by introducing a digital asset custody service next year.
Key Highlights:
- The bank will partner with Bitpanda’s tech division to launch its crypto custody platform.
- It will continue collaborating with Swiss fintech firm Taurus SA, with whom it began developing crypto services in 2022.
- This move follows recent crypto-related developments by other global banks, including JP Morgan’s pilot of its JPMD token on the Base blockchain.
Deutsche Bank’s plans mark a significant step toward mainstream crypto adoption within traditional finance. The custody service, slated for launch in 2025, comes after years of behind-the-scenes development.
According to Bloomberg, the bank’s corporate division is maintaining its relationship with Taurus SA, while also integrating Bitpanda’s technology to support its upcoming crypto infrastructure.
The announcement comes shortly after other large financial institutions also made crypto moves. JP Morgan, for example, revealed its intention to pilot a digital token on Ethereum’s Base layer-2 network. Additionally, Sparkassen—another major German bank—reportedly aims to begin offering crypto trading services by next summer.
While specific assets to be included in Deutsche Bank’s custody service haven’t been disclosed, Bitcoin is expected to be among them. Earlier this year, the bank highlighted Bitcoin’s potential as a strategic reserve to help offset U.S. national debt.
