![Deutsche Bank plans to offer crypto custody](http://bitcoinworld.co.in/wp-content/uploads/2021/02/Deutsche-Bank-plans-to-offer-crypto-custody.jpg)
Deutsche Bank, the most significant German lending bank, intends to launch crypto custody services and other crypto-specific services for institutional investors. Thus becoming one of the many banks to step into crypto offering currently. The bank revealed its intentions to provide institutional crypto services in a report issued by the World Economic Forum in December. Nevertheless, it was neglected by most. Deutsche Bank provides services to some significant crypto service providers such as Bitgo, Gemini, Metamask, and various others.
According to the WEF report, the Deutsche Bank plans to develop a wholly integrated custody platform for institutional clients and their digital assets to plug into the broader crypto ecosystem. The report also asserts that the German bank wants to include a secure bridge connecting digital assets and conventional banking services. Its native platform will promote this to enable users to manage digital assets and fiat holdings altogether.
Deutsche Bank to launch crypto custody platform in stages
Moreover, the report remarks that Deutsche Bank expects to launch the platform in stages. The first stage will render insured digital asset custody for vetted digital assets based on institutional investors. It involves asset managers, wealth managers, family offices, corporates, and digital funds. Moreover, the clients can then purchase and trade digital assets from select brokers, issuers, and crypto exchanges. The platform will also provide taxation, valuation, lending, fund administration, staking, and voting. Deutsche Bank also plans to provide issuance and trading capabilities. Deutsche’s direct opposition in the banking world is Fidelity’s digital asset wing, which grants custodial services.
Besides the German bank, various other global lending giants are also stepping into crypto. Last December, Singapore’s DBS launched similar crypto custodian and exchange services for institutions. Most recently, BNY Mellon announced its aim to offer digital asset-based services to its asset management clients. Deutsche Bank’s digital asset services are still a prototype, and there is no deadline publicly published by the bank for the launch.
Follow BitcoinWorld for the latest updates.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.