Deutsche Bank to launch bitcoin custory for European institutions this year

On Wednesday, Deutsche Bank announced it will introduce a bitcoin custody solution for its European corporate and institutional clients within this year.

The Frankfurt-based lender noted that the launch is conditional upon completing the applicable regulatory timeline.

Deutsche Bank's announcement follows a broader trend among major global banks entering crypto custody. Over the past 18 months, BNY Mellon, State Street, Standard Chartered, U.S. Bank, and Citigroup have each either started offering direct crypto custody or committed to doing so.

“Digital assets are not a replacement for the traditional financial system but an important complement to it,” said Gerald Podobnik, Co-Head Corporate Bank at Deutsche Bank, in a statement.

“We see them as new rails that can coexist with existing market infrastructures while benefiting from the trust, security and safeguards that regulated financial institutions provide. Our aim is to offer clients a secure and regulated gateway to this evolving market. The service will be further developed in line with client demand, regulatory requirements and the bank’s risk appetite.”

The bank also said it will support a “selected range of digital assets,” including stablecoins, in addition to bitcoin.

A statement added: “The range of supported assets may be expanded over time, subject to client demand and the bank’s product-approval, risk management and regulatory processes. Tokenized financial instruments are also included in the roadmap.”

Earlier reports had indicated that Deutsche Bank was preparing to launch bitcoin custody services in 2025. According to a report, the bank planned to incorporate Bitpanda’s custody infrastructure and collaborate with Tauras to develop the offering for corporate and institutional clients.

Last month, Citigroup announced a similar move, stating it would launch a bitcoin custody service this year that enables institutional investors to hold both traditional assets and bitcoin in a single framework, eliminating the need for separate systems.