Deutsche Bank (DB) is planning to debut a crypto custody service next year, Bloomberg reported on Tuesday.
Germany’s largest bank has enlisted cryptocurrency exchange Bitpanda to help build the offering, according to the report, citing people familiar with the matter.
Deutsche’s prior involvement in crypto custody has largely been through Swiss custodian Taurus, of which the German bank is both an investor and a client. It is not clear how this relationship would develop should Deutsche begin offering its own service in-house.
The bank’s other recent crypto initiatives have been concentrated in the stablecoin sector, with its asset management subsidiary DWS planning to issue a euro stablecoin as part of a joint venture with Flow Traders and Galaxy (GLXY).
