Deutsche Bank to offer cryptocurrency custody and tokenization services

Germany's Deutsche Bank obtained the license to offer custody and tokenization service for digital assets in a partnership with cryptocurrency platform Taurus

Germany’s largest bank, Deutsche Bank, announced that it will offer cryptocurrency custody and tokenization service after signing an alliance with the Taurus platform.

The German bank’s interest in digital assets became palpable in 2021. Last June it applied for a crypto custody license with the German financial regulator, BaFin, which has now been granted.

For its part, “Taurus provides enterprise-grade digital asset infrastructure to more than 25 institutions to issue, custody and trade digital assets, such as cryptocurrencies, tokenized assets, NFTs and digital currencies.”

According to Paul Maley, global head of securities services at Deutsche Bank, the digital asset market has grown and demonstrated its great potential. Hence, “the need for traditional financial companies to adapt to the rapidly evolving space.”

In a first stage, they will offer custody of selected cryptocurrencies and some stablecoins.


Source: diariobitcoin

(Reference image source: Traxer, Unsplash)

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