According to The Block, Deutsche Bank recently announced that it will join hands with cryptocurrency market maker Keyrock to allow Keyrock to optimize their global market making and over-the-counter (OTC) business through Deutsche Bank’s multi-currency accounts and foreign exchange services. .

Gather services to improve efficiency and actively expand overseas markets

The purpose of this cooperation:

  • Reduce settlement and counterparty risks: Keyrock centralizes multiple services and handles them through Deutsche Bank, eliminating the risks associated with working with multiple banks or other financial institutions.

  • Multi-currency account: The multi-currency account opened by Deutsche Bank for Keyrock can support more than 10 currencies. In this way, Keyrock no longer needs to use different banks to manage the conversion of different currencies, greatly improving transaction efficiency and settlement. It can be done almost instantly.

  • Simplified operational processes: Keyrock hands over these cumbersome operational processes to Deutsche Bank, eliminating the need to spend too much time on these matters and enabling it to focus more on developing its global business.

With the assistance of Deutsche Bank, Keyrock plans to accelerate its expansion into Europe, the Middle East, Africa, Asia Pacific and Latin America. Keyrock is currently active in approximately 400 markets and can handle trading on over 100 currency pairs.

Deutsche Bank actively participates in digital assets field

Deutsche Bank not only supports Keyrock, but also signed a global partnership agreement with Swiss financial technology company Taurus last year to provide digital asset custody and tokenization services to its customers. It has also cooperated with the cryptocurrency exchange Bitpanda, allowing Bitpanda to use the API services provided by Deutsche Bank, allowing Bitpanda users to obtain German IBAN accounts, and providing instant settlement of legal currency.

In addition, Deutsche Bank has also participated in the pilot project (Project Guardian) led by the Monetary Authority of Singapore (MAS). This project focuses on asset tokenization and is committed to testing the application of blockchain technology in regulated financial markets. .

(Note: IBAN is an international bank account number, used to facilitate international bank transfers.)

(Deutsche Bank partners with Taurus to enter digital asset custody and tokenization services)

This article Deutsche Bank joins hands with Keyrock to promote global crypto market creation and OTC trading first appeared on Chain News ABMedia.