Deutsche Bank is weeks away from launching its first digital asset service, a crypto custody offering, as Germany's biggest lender moves into digital assets for institutional clients.
Gerald Podobnik, co-head of the corporate bank, told Reuters on the sidelines of the IMF and World Bank meetings in Bangkok that the phased rollout will initially support custody of major cryptocurrencies such as bitcoin and ether, before expanding to services that help clients move money into and out of mainstream stablecoins. The bank also plans to offer tokenised deposits and help clients issue blockchain-based securities such as digital bonds.
After the launch in Germany, the bank plans to expand the custody platform into Asian financial centres next year. Podobnik said the move forms part of a broader strategy to achieve compound annual growth of 8% in corporate banking by 2028.
The bank had already announced its custody plan in September, with initial coverage of bitcoin, ether and selected stablecoins for institutional clients. The service is aimed at corporates, asset managers and other large clients rather than retail customers.