Deutsche Bank close to debuting crypto custody for institutions
Source: CoinDesk ·
From the source
The service will support a select range of cryptocurrencies at debut, including bitcoin and ether and stablecoins like USDC and EURC. Deutsche Bank’s (DB) digital asset custody service is set to go live by the end of the year. Germany’s largest bank said the service, subject to the completion of applicable regulatory checks, will give European institutional and corporate clients regulated custody of digital assets. The service will support a select range of cryptocurrencies at debut, including bitcoin BTC $75,587.48 and ether ETH $2,397.78 and stablecoins like USDC and EURC. “Digital assets are not a replacement for the traditional financial system but an important complement to it,” Deutsche’s co-head of corporate bank, Gerald Podobnik, said in an announcement on Wednesday. “We see them as new rails that coexist with existing marketing infrastructures. The service will be developed in line with client demand, regulatory requirements and the bank’s risk appetite,” Podobnik added.…