Deutsche Bank launches crypto custody in Europe after five years

Deutsche Bank launches cryptocurrency custody in Europe after five years of preparation

Deutsche Bank has made its digital asset custody service operational for corporate clients. The activation follows a five-year preparation path. The bank directly manages wallets and private keys, allowing the storage and transfer of Bitcoin, Ether, and three specific stablecoins: USDC, EURC, and EURAU.

Why it matters

The entry of Germany’s largest banking institution into this sector marks a concrete step in integrating cryptocurrencies into the traditional European financial system. The service is based on Article 60 of the MiCA regulation, which allows banks with a banking license to offer crypto services by notifying the regulator. Thanks to the service passport mechanism, the offering is valid in 30 countries: Germany, the 26 member states of the European Union, Iceland, Liechtenstein, and Norway.

Paul Maley, global head of trust and securities services at Deutsche Bank, stated at the Sibos conference that the custody business has gone online. According to Maley, the medium-term goal is to provide an integrated and regulated ecosystem for the custody, tokenization, and settlement of digital assets.

The data

The service covers 30 European countries. The bank manages three stablecoins in addition to the two main cryptocurrencies. Deutsche Bank AG’s registration in the ESMA register of crypto-asset intermediaries took place on October 12. The project was initially announced in September, with a launch scheduled for 2026.

What remains to be understood

The fees applied by the bank and the names of the first institutional clients registered for the service are not yet public. Furthermore, it is unclear whether the current limitation to only the Corporate Bank division reflects a change from the September announcement, which also mentioned the Investment Bank. At the time of publication, no official press release regarding the launch of the service or the memorandum of understanding signed with Deutsche Asset Management (formerly DWS) was available on the bank’s website.

Sources: Decrypt, Cointelegraph, Bitcoin Magazine, Unchained.

For more updates, read the other crypto and finance news; on the same topic also «Project Faro: $270 million for banks’ stablecoin» and the latest HWReady news.

This article is for informational purposes only and does not constitute financial advice or an investment recommendation.

* Content created with the assistance of artificial intelligence systems.