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Deutsche Bank is weeks from launching bitcoin custody in Germany and plans an Asia rollout in 2027, Reuters reports
Summary
Deutsche Bank, Germany’s largest bank, is preparing to launch crypto custody in Germany and plans to expand the service to Asian financial centers in 2027, according to a Reuters report cited by Cointelegraph and Bitcoin Magazine on Oct. 16.
Both outlets said Gerald Podobnik, co-head of Deutsche Bank’s corporate bank, was quoted by Reuters; Cointelegraph said he tied the plan to the growth of the digital asset economy, including hundreds of billions of dollars held in stablecoins.
Bitcoin Magazine said the launch is weeks away, while Cointelegraph reported that ESMA’s interim MiCA register showed the bank received authorization from Germany’s BaFin on Monday.
Cointelegraph said the custody service will initially support bitcoin, ether and select stablecoins including USDC, EURC and AllUnity’s EURAU, according to a Sept. 16 Deutsche Bank press release.
Key facts
- Deutsche Bank plans to expand crypto custody into Asian financial centers in 2027, per Reuters.
- Podobnik said the move is part of a goal of 8% compound annual growth in corporate banking by 2028.
- ESMA’s interim MiCA register showed BaFin authorization for Deutsche Bank on Monday, according to Cointelegraph.
- Bitcoin Magazine said Deutsche Bank first announced its bitcoin custody plans for European corporate and institutional clients in September.
- Bitcoin Magazine listed BNY Mellon, State Street, Standard Chartered, U.S. Bank and Citigroup as banks that have committed to direct crypto custody over the past 18 months.