BREAKING: Deutsche Bank To Offer Crypto Services

September 14, 2023 11:25 am Comments

Germany’s largest bank, Deutsche Bank, is set to offer crypto services to its clients.

The $1.34 trillion banking giant teamed up with Taurus to be able to provide custodial and other digital asset services for its customers.

According to sources, the services will primarily be focused on Bitcoin and major-cap altcoins like Ethereum.

Additionally, Decrypt reports: “Alongside crypto custody, Deutsche Bank will also use Taurus’ infrastructure to offer tokenization services for its customers.”

Watcher Guru explained:

The bank had previously applied for a digital asset license with German regulators this year.

Moreover, this worldwide partnership represents another step in the asset manager’s entry into the digital asset industry.

Subsequently, it is now set to integrate Taurus’ technology to manage cryptocurrency for clients.

Multiple outlets likewise confirmed the news on Thursday, as investors, traders, and enthusiasts celebrated the news as incredibly bullish for the broader crypto markets.

The Block provided this statement from Deutsche Bank Global Head of Securities Services Paul Maley:

“As the digital asset space is expected to encompass trillions of dollars of assets, it’s bound to be seen as one of the priorities for investors and corporations alike. As such, custodians must start adapting to support their clients.”

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