Deutsche Bank is stepping in to provide custody for institutional $BTC itself.
Gerald Podobnik, co-head of Deutsche Bank’s Corporate Bank, confirmed to Reuters on October 16 that its crypto custody service for institutions is just weeks away from launch. It will initially support $BTC and $ETH , with the stablecoin lineup later expanding to five (USDC/EURC/EURAU).
A few numbers to put things in perspective: Deutsche Bank’s private banking and asset management businesses oversee $2.217 trillion; it signed a deal with Taurus for custody technology back in 2023, but the licensing process has dragged on for a full three years; Germany gets the service first, with expansion to Asia planned for 2027. Retail investors are out of luck, though—no retail accounts.
ETF outflows on one side, Europe’s largest bank building a vault on the other. Do you think real money is coming in?
A: It is. First they’re building out custody infrastructure for a $2.2 trillion pipeline—the money will come eventually.
B: No. They haven’t even gotten the license yet; institutions are all talk.
#DeutscheBank #BankCustody
$SOL
Gerald Podobnik, co-head of Deutsche Bank’s Corporate Bank, confirmed to Reuters on October 16 that its crypto custody service for institutions is just weeks away from launch. It will initially support $BTC and $ETH , with the stablecoin lineup later expanding to five (USDC/EURC/EURAU).
A few numbers to put things in perspective: Deutsche Bank’s private banking and asset management businesses oversee $2.217 trillion; it signed a deal with Taurus for custody technology back in 2023, but the licensing process has dragged on for a full three years; Germany gets the service first, with expansion to Asia planned for 2027. Retail investors are out of luck, though—no retail accounts.
ETF outflows on one side, Europe’s largest bank building a vault on the other. Do you think real money is coming in?
A: It is. First they’re building out custody infrastructure for a $2.2 trillion pipeline—the money will come eventually.
B: No. They haven’t even gotten the license yet; institutions are all talk.
#DeutscheBank #BankCustody
$SOL