Deutsche Bank to Launch Cryptocurrency Storage Service for Its Clients
Date: 2025-07-02 Author: Henry Casey Categories: BUSINESS
The bank is collaborating with the technology division of the Bitpanda crypto exchange and the Swiss company Taurus, which specializes in blockchain solutions for large corporate clients. This partnership will allow Deutsche Bank to implement a reliable and secure custodial service.
The bank submitted an application for a license from the German Federal Financial Supervisory Authority (BaFin) to provide cryptocurrency storage services back in 2023. The organization is currently in the final stages of preparation for the launch of the service. In addition, Deutsche Bank is considering integration with stablecoins and tokenized deposits, which indicates a desire for innovation and expansion of the range of financial products offered.
In June 2024, Deutsche Bank signed an agreement with Bitpanda, allowing German clients to buy and sell cryptocurrencies via domestic bank transfers using German IBANs. And in December of the same year, the bank announced a partnership with Crypto.com, expanding corporate banking services in countries such as Singapore, Australia, and Hong Kong, including fiat-to-cryptocurrency exchange operations.
It is worth noting that the European brokerage company Trade Republic previously received BaFin approval to provide cryptocurrency services in accordance with the EU's MiCA legislation. This confirms the high level of regulation and control in the cryptocurrency sector in Germany and Europe as a whole.
Deutsche Bank's new steps show that traditional financial institutions are actively integrating into the digital asset sector, seeking to provide clients with reliable access to cryptocurrencies and expand their ability to manage these assets within the legal framework. The introduction of custodial services will be an important step in the development of banking services in the era of the digital economy.
