Deutsche Bank is the latest major financial institution to make inroads into the cryptocurrency world. The largest German Bank is reportedly looking to launch its crypto service as early as next year after years of working on this move.
Deutsche Bank To Partner With Bitpanda For Crypto Service
According to a Bloomberg report, the financial giant has tapped crypto exchange Bitpanda’s technology unit for the launch of its crypto custody service next year. Meanwhile, the report revealed that the Bank’s corporate bank will continue to work with Swiss technology provider Taurus SA on its custody plans, which it first revealed in 2022.
Deutsche Bank’s alleged plans come as major financial institutions continue to embrace the crypto industry. As CoinGape reported, the US’s largest Bank, JP Morgan, plans to issue a JPMD coin, which it will pilot on the Ethereum layer-2 network Base.
Meanwhile, Bloomberg reported yesterday that Sparkassen, another German financial giant, plans to roll out its crypto trading services starting next summer. The move from Deutsche Bank and Sparkassen will boost institutional adoption, considering the array of clients that these institutions serve.
It remains unknown if the Bank’s crypto custody services will also focus on certain cryptocurrencies. The largest crypto by market cap, Bitcoin, is expected to be included in this arrangement. Earlier this year, Deutsche Bank made a case for Bitcoin, stating that the US Strategic BTC Reserve could offset national debt.
Boluwatife Adeyemi
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Source: https://coingape.com/deutsche-bank-to-launch-crypto-custody-services-in-2026/