Deutsche Bank intends to launch a regulated cryptocurrency custody service for institutional clients by the end of the year, a move that underscores the German lender's push into digital asset infrastructure. The bank announced the plan in a news release, stating that the service will allow European institutional and corporate clients to securely store digital assets.
Upon its debut, the custody platform will support a select range of cryptocurrencies, including Bitcoin and Ethereum, as well as stablecoins such as USDC. The service is designed to manage the private keys required to prove ownership and move these assets on a blockchain. Deutsche Bank noted that institutions are increasingly adopting digital assets, particularly stablecoins used for digital payments, and may prefer custody solutions from financial institutions with which they already have traditional finance relationships.
Market data reflects the current valuation environment for the bank and the broader crypto sector. Deutsche Bank stock has risen 5% over the past 12 months, trading at $38.35 per share in U.S. dollars. Meanwhile, Bitcoin was trading at $75,650 on September 16.