Germany's largest bank, Deutsche Bank, is reportedly planning to allow clients to custody cryptocurrencies such as Bitcoin next year.
According to Bloomberg on Tuesday, Deutsche Bank plans to collaborate with the technology department of Austrian crypto exchange Bitpanda to launch digital asset custody services in 2026.
Bloomberg cited sources familiar with the matter, stating that Taurus, a Swiss technology service provider supported by Deutsche Bank, will also participate in the development of this crypto custody service.
If the news is accurate, this would mark an important step for Deutsche Bank in advancing its crypto custody market strategy since it publicly expressed its intentions in 2020.
In recent years, Deutsche Bank has continued to increase its investment and focus on the cryptocurrency sector.
In early June 2024, Sabih Behzad, head of digital assets at Deutsche Bank, stated that the bank is considering entering the stablecoin market, including issuing its own stablecoin or participating in other stablecoin projects.
"We are indeed seeing a growing momentum for stablecoins, especially as the regulatory environment in the U.S. is becoming more favorable," Behzad said, adding:
Additionally, Deutsche Bank is also evaluating the development of its own tokenized deposit solutions for application in the payment sector.
As early as the end of last year, Deutsche Bank reportedly utilized ZKsync technology to develop its own Layer 2 blockchain on Ethereum.
In 2023, after applying for a digital asset custody license from German regulators, Deutsche Bank announced a partnership with Taurus to launch crypto asset custody services.
Starting in June 2024, Deutsche Bank will also collaborate with Bitpanda to enhance the exchange's crypto payment capabilities.
Deutsche Bank did not respond immediately to Cointelegraph's request for comment. Bitpanda declined to confirm or deny the related reports.
This news comes as German financial giant Sparkassen-Finanzgruppe announced plans to launch crypto trading services for its 50 million customers.
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Original article: “Deutsche Bank Plans to Launch Crypto Asset Custody Accounts in 2026”
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