Deutsche Bank Teams Up With Swiss Crypto Firm to Offer Digital Asset Services

Deutsche Bank, the largest slope successful Germany by full assets, is collaborating with Swiss integer plus steadfast Taurus to supply clients with crypto custody and tokenization services. “As the integer plus abstraction is expected to encompass trillions of dollars of assets, it’s bound to beryllium seen arsenic 1 of the priorities for investors and corporations alike,” said Deutsche Bank’s planetary caput of Security Services.

Deutsche Bank Entering Crypto Custody and Tokenization Space

Financial elephantine Deutsche Bank is collaborating with integer plus exertion supplier Taurus to connection crypto custody and tokenization services, Taurus announced connected Thursday. The integer plus steadfast stated successful a property release:

Deutsche Bank has entered a planetary statement with Taurus … Deutsche Bank volition leverage Taurus custody and tokenization exertion to negociate cryptocurrencies, tokenized assets, and integer currencies.

A Deutsche Bank typical explained that the concern means Germany’s largest banking instauration will, for the archetypal time, person the capableness to custody a constricted fig of cryptocurrencies for its clients, arsenic good arsenic tokenized versions of accepted assets. However, the spokesperson clarified that cryptocurrency trading is not portion of the bank’s “immediate plans.”

Taurus provides enterprise-grade integer plus infrastructure to issue, custody, and commercialized integer assets, including cryptocurrencies, tokenized assets, and non-fungible tokens (NFTs), the crypto steadfast detailed. In February, Deutsche Bank participated successful Taurus’ $65 cardinal Series B backing circular led by Credit Suisse.

Paul Maley, planetary caput of Securities Services astatine Deutsche Bank, opined:

As the integer plus abstraction is expected to encompass trillions of dollars of assets, it’s bound to beryllium seen arsenic 1 of the priorities for investors and corporations alike. As such, custodians indispensable commencement adapting to enactment their clients.

A fig of large banks and fiscal institutions are either already providing oregon considering offering cryptocurrency custody services to their customers. They see Crédit Agricole, Santander, DZ Bank, Itau Unibanco, Donner & Reuschel, Union Bank of Philippines, Standard Chartered, BNY Mellon, and Societe Generale.

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