Germany’s largest banking institution, Deutsche Bank, intends to launch a crypto custody service in the upcoming year, according to a report by Bloomberg on Tuesday. The bank is collaborating with the cryptocurrency exchange Bitpanda for this initiative, as per sources familiar with the situation.
Deutsche Bank’s previous engagements in the crypto custody space have primarily involved the Swiss custodian Taurus, where it acts both as an investor and a customer.
The bank’s recent ventures into the crypto sphere have also focused on stablecoins, with its asset management branch planning to introduce a euro stablecoin through a partnership with other firms.
Deutsche did not provide immediate comments in response to requests, while Bitpanda also chose not to comment when approached.
Read more: Deutsche Bank takes steps in the crypto custody space in collaboration with Bitpanda.
