Deutsche Bank Launches Digital Asset Custody Service

Deutsche Bank has launched a digital-asset custody service for paying corporate and institutional clients, allowing them to hold and transfer five supported assets through the bank. The service is live in Germany, with access for eligible customers elsewhere in Europe subject to applicable rules, the bank says. Retail customers are not included in the initial rollout.

The supported assets are Bitcoin, Ether, USDC, EURC and EURAU. Deutsche Bank says it manages clients’ digital wallets and private keys and provides safekeeping and transfers to third parties. Customers can access the offering through Autobahn, the bank’s corporate banking platform.

The service offers warm and cold storage, hardware-based protection for private keys and transfer approval controls, according to the bank’s product information. Deutsche Bank has not publicly identified its first customers or disclosed fees or the amount of assets held in custody.

The launch follows the bank’s September announcement of plans to provide custody to corporate and institutional clients. Its October 12 registration under the European Union’s Markets in Crypto-Assets Regulation covers crypto-asset custody and transfer...