Keeping cryptocurrencies safe has traditionally meant relying on specialised platforms, but established banks are beginning to offer another option. Deutsche Bank is preparing to launch its first digital asset custody service in Germany within weeks, giving businesses a familiar institution to manage their holdings. Following its European debut, the lender plans to expand into Asian financial centres in 2027, although specific destinations remain undisclosed.
German launch moves closer
Earlier this month, Deutsche Bank reached an important milestone after receiving authorisation from German regulator BaFin under the European Union’s Markets in Crypto-Assets (MiCA) rules on October 12. However, the service still needs to meet outstanding requirements before becoming available, according to CoinDesk.
What does this mean for businesses holding cryptocurrencies? Rather than managing digital wallets and private keys themselves, corporate and institutional customers can leave those responsibilities to Deutsche Bank.
Initially, the platform will support Bitcoin, Ether and three stablecoins: USDC, EURC and EURAU. These digital currencies are designed to maintain a stable value against traditional money. To prepare for the rollout, the lender has worked with technology companies Bitpanda and Taurus. Competitors such as Standard Chartered and BBVA already offer similar custody services.
Asian expansion brings new opportunities
During the IMF and World Bank meetings in Bangkok, Gerald Podobnik, co-head of Deutsche Bank’s corporate bank, outlined plans to bring the platform to Asia next year. Beyond secure storage, customers could eventually access stablecoin conversion, digital deposits and services for issuing blockchain-based bonds.
We may be approaching an inflection point, with the focus shifting from experimentation towards concrete use cases
Gerald Podobnik
The initiative supports an ambitious business target, with Deutsche Bank aiming for approximately 8% annual revenue growth in corporate banking between 2025 and 2028. Podobnik believes financial institutions are moving towards practical uses for blockchain technology rather than simply testing its possibilities. For now, the approaching German launch will provide an early indication of how traditional banking and cryptocurrency services can work together.
