Deutsche Bank seeks green light from regulators for institutional digital asset custody platform
The leading financial institution in Germany is waiting for authorization from regulators to roll out custody services for institutional clients covering Bitcoin, Ether and certain stablecoins, with plans to add tokenized assets later.
Deutsche Bank, the leading financial institution in Germany, is currently waiting for authorization from regulatory bodies to introduce custody services for digital assets targeting corporate and institutional clients across Europe.
According to an announcement made by the bank on Wednesday, Deutsche Bank intends to activate the service for its initial customers within the current year, pending the completion of necessary regulatory procedures and timelines.
The financial institution's initial custody offering will provide support for Bitcoin (BTC), Ether (ETH) and a selection of stablecoins, which include Circle USDC (USDC), EURC (EURC) and AllUnity EUR (EURAU). The bank has also indicated plans to incorporate support for tokenized financial instruments in subsequent phases.
As one of the financial institutions designated by the Financial Stability Board as a Global Systemically Important Bank, Deutsche Bank holds significant influence in the global banking sector.
This initiative represents the German banking giant's most recent venture into the cryptocurrency space, validating previous media reports that suggested the institution was working on crypto custody capabilities. Back in June, Sabih Behzad, Deutsche Bank's head of digital assets, disclosed that the financial institution was exploring entry into the stablecoin marketplace, which could potentially include launching its own digital token.
Heinrich Frömsdorf, a spokesperson representing Deutsche Bank, informed Cointelegraph that the bank anticipates receiving approval for the custody service license in October, operating under the regulatory framework established by the EU's Markets in Crypto Assets (MiCA) regulations.
German banks ink partnerships to pursue crypto services
The drive to deliver cryptocurrency-related services is anticipated to gain momentum following MiCA's implementation of full enforcement measures on July 1.
The initial announcement regarding Deutsche Bank's intentions to introduce crypto custody capabilities came in 2023, when the institution disclosed its collaboration with Taurus, which followed shortly after submitting an application for a digital asset custody license with German regulatory authorities.
Additional German financial institutions are pursuing comparable service offerings. The Landesbank Baden-Württemberg, recognized as Germany's largest federal bank, began providing crypto custody solutions in April 2024 following the establishment of a partnership with Bitpanda, the Austria-based company, to leverage its institutional custody infrastructure.
In December 2025, DZ Bank said it received authorization from German regulator BaFin under MiCA to operate its meinKrypto platform.