Deutsche Bank Crypto Custody Officially Goes Live 41 Months…
By Tobi Opeyemi Amure
AI summary of the source article
Deutsche Bank has officially launched crypto custody and transfer services for corporate and investment bank clients. The offering supports Bitcoin, Ether, USDC, EURC, and EURAU, with regulatory authorization passported across all 30 EEA states.
Why it matters
The authorization passports across 30 EEA states, widening the addressable market to the whole bloc, "which matters for a lender whose corporate client base is spread across it."
Key facts
- Deutsche Bank rolled out safekeeping and transfer services for Bitcoin, Ether, USDC, EURC, and EURAU to institutional and corporate clients, excluding retail.
- The bank's authorization in the ESMA register covers custody, administration, and transfer services passported across all 30 EEA states.
- The custody infrastructure relies on technology from external vendors Taurus and Bitpanda.
Source excerpt · FinanceFeeds
Germany's largest bank, Deutsche Bank, officially rolled out crypto custody services for paying clients on Wednesday, Reuters reported . The lender, which Reuters also calls Germany’s largest, applied to BaFin for the license behind it in June 2023, roughly 41 months ago. The service was announced in September on the condition that the regulatory timeline completed first. That condition has now cl…