Deutsche Bank readies crypto custody launch, targets Asia in 2027

Deutsche Bank plans to launch its institutional crypto custody service in Germany within weeks and expand to Asia in 2027, its corporate bank co-head told Reuters. The service initially supports bitcoin, ether and the stablecoins USDC, EURC and EURAU, with the bank managing clients' wallets and private keys.

• The bank received authorization from German regulator BaFin under the EU's MiCA rules on Oct. 12, according to ESMA's interim register; the German launch remains subject to final regulatory approval.
• Deutsche Bank also plans stablecoin conversion, tokenized deposits and digital bond issuance as part of a target of roughly 8% annual revenue growth in its corporate bank by 2028.
• It has worked with Bitpanda and Taurus on the custody plans, joining rivals such as Standard Chartered and BBVA in offering institutional crypto custody.