Deutsche Bank plans bitcoin, ether custody for institutional clients in Europe

Deutsche Bank said Wednesday it plans to launch its digital asset custody service for European corporate and institutional clients this year, pending regulatory clearance. 

The German lender said in a statement that the service will initially support bitcoin (BTC), ether (ETH), and select stablecoins including USDC, EURC, and EURAU. The bank will manage clients’ wallets and private keys, allowing them to hold digital assets and transfer them to third parties without building their own custody infrastructure, it added.

Founded in 1870, Deutsche Bank has been developing its digital asset custody offering for years. Reuters reported in September 2023 that the bank had partnered with Taurus to provide custody services for institutional clients’ cryptocurrencies. Bloomberg reported last year about the 2026 launch, with Bitpanda and Taurus involved in the project.

In the statement, Deutsche Bank said its initial client base will include corporates, asset managers, hedge funds, custodians, brokers, and sovereign institutions served by its Corporate Bank and Investment Bank.

Gerald Podobnik, Co-Head of Corporate Bank at Deutsche Bank, said digital assets are “not a replacement for the traditional financial system” but a complement to existing market infrastructure.

The custody service will use hardware-based key protection, multi-person approvals, separate warm and cold storage environments, and backup and recovery controls, according to the bank. Selected external technology and infrastructure providers will handle defined technical components.

Deutsche Bank said the supported asset range may expand over time, subject to client demand and its product-approval, risk management, and regulatory processes. Tokenized financial instruments are also on the roadmap.