Deutsche Bank launches crypto custody for Bitcoin, Ethereum, stablecoins - Crypto News

The German banking group has made its new digital asset custody platform operational, enabling clients to store and transfer cryptocurrencies through its Autobahn corporate banking system.

The service is available to paying clients, though the bank has not disclosed its first customers or the specific fees for holding digital assets.

Deutsche Bank manages the digital wallets and private keys on behalf of clients, using hardware-protected storage, warm and cold wallets, and multiple approval controls.

Regulatory approval under MiCA

The launch follows the bank’s registration under the European Union’s Markets in Crypto-Assets Regulation, known as MiCA, which was recorded by German financial regulator BaFin on October 12.

The entry in the European Securities and Markets Authority’s MiCA register allows Deutsche Bank to provide custody and transfer services in Germany and serve eligible clients in other European markets.

The bank’s current offering concentrates on storing and transferring digital assets, with cryptocurrency trading, exchange services and tokenized securities not among the initial products listed.

Technology and asset support

Deutsche Bank’s custody platform offers hardware-protected private key storage, warm and cold wallets, and separate storage arrangements for client assets.

The service initially covers five digital assets: Bitcoin, Ethereum, USD Coin, EURC and EURAU, with the possibility of introducing additional cryptocurrencies and tokenized financial instruments.

The bank has worked with Swiss digital asset company Taurus since 2023 on custody and tokenization technology, using external technology providers for selected technical services.

Expansion plans and strategic partnerships

Deutsche Bank plans to bring its cryptocurrency custody business to major Asian financial centers in 2027, expanding its digital asset services beyond Europe.

The planned rollout includes services for exchanging traditional currencies into stablecoins, tokenized deposits and support for issuing digital bonds.

The expansion forms part of Deutsche Bank’s corporate banking growth strategy, which targets approximately 8% compound annual revenue growth between 2025 and 2028.

On November 11, the lender announced a memorandum of understanding with Deutsche Asset Management to explore commercial and technical cooperation involving digital assets.

The agreement covers potential collaboration between the bank’s custody business and its asset management operations, although specific products and launch dates have not been announced.

Competition in institutional custody

Deutsche Bank joins several established financial institutions providing cryptocurrency custody as banks develop services for institutional clients.

BNY has expanded its digital asset custody activities through a partnership with Ripple, supporting institutional custody of XRP and Ripple’s RLUSD stablecoin.

Other financial institutions, including State Street, have developed digital asset custody infrastructure, while specialist providers such as BitGo and Anchorage Digital offer cryptocurrency custody services to institutional customers.

The launch comes one day after reports that Goldman Sachs, Citigroup, Banco Santander and Deutsche Bank were among financial institutions backing a new stablecoin venture with approximately $270 million in committed funding.

The proposed venture involves 21 financial institutions and is targeting the launch of a US dollar stablecoin in the first half of 2027.

The consortium plans to begin with dollar-denominated tokens before considering a euro stablecoin, with funding intended to cover its first five years of operations.