Deutsche Bank to launch crypto custody accounts in 2026: Report

Germany’s biggest bank, Deutsche Bank, is reportedly readying to let its clients to store cryptocurrencies similar Bitcoin adjacent year.

Deutsche Bank reportedly plans to motorboat its integer assets custody work successful 2026 successful collaboration with the exertion portion of Austria-based Bitpanda crypto exchange, Bloomberg reported connected Tuesday.

The crypto custody service’s improvement volition besides impact Deutsche Bank-backed Swiss exertion supplier Taurus, according to Bloomberg, citing sources acquainted with the matter.

If confirmed, Deutsche Bank’s latest plans would people the bank’s latest effort to participate the crypto retention marketplace since it archetypal revealed specified ambitions successful 2020.

Heavy engagement successful crypto

Deutsche Bank has signaled expanding involvement successful cryptocurrency markets successful caller years

In aboriginal June, Deutsche Bank’s caput of integer assets, Sabih Behzad, said that the slope was considering entering the stablecoin market, including issuing its ain stablecoin oregon joining stablecoin projects.

“We tin surely spot the momentum of stablecoins on with a regulatory supportive environment, particularly successful the US,” Behzad said, adding:

“Banks person a wide assortment of options disposable to prosecute successful the stablecoin manufacture — everything from acting arsenic a reserve manager, done to issuing their ain stablecoin, either unsocial oregon successful a consortium.”

Additionally, Deutsche Bank is besides reportedly assessing whether to make its ain tokenized deposit solution for usage successful payments.

Late past year, Deutsche Bank was reportedly developing its ain layer-2 (L2) blockchain connected Ethereum utilizing ZKsync technology.

Related: Crypto cards outpace banks successful micro-spending successful Europe: Report

In 2023, Deutsche Bank planned to launch crypto custody options successful concern with Taurus soon aft applying for a integer plus custody license successful Germany.

Deutsche Bank has besides previously worked with Bitpanda connected improving crypto payments astatine the crypto speech since astatine slightest June 2024.

Deutsche Bank declined to remark erstwhile contacted by Cointelegraph. Bitpanda besides declined to corroborate oregon contradict the report.

The quality follows different large German bank, Sparkassen-Finanzgruppe, which announced plans to present crypto trading services to its 50 cardinal customers connected Tuesday.

Magazine: Crypto wanted to overthrow banks, present it’s becoming them successful stablecoin fight