Germany’s Biggest Bank Goes Crypto: Deutsche Bank Launches Bitcoin Custody

Deutsche Bank has officially launched crypto custody for Bitcoin (BTC), Ethereum (ETH), and stablecoins. The service went live on Wednesday, two months after the bank first announced it.

The move makes Germany's largest lender a direct player in institutional digital asset services across Europe.

What Deutsche Bank's New Crypto Custody Service Offers

Crypto custody is a service in which a regulated institution safeguards digital assets for clients. It manages private keys and wallets on their behalf.

According to Reuters, Deutsche Bank confirmed the launch on Wednesday. The service supports Bitcoin, Ethereum, and three stablecoins and e-money tokens.

These include USDC, EURC, and EURAU, a euro token from AllUnity. The bank also handles safekeeping and transfers, though tokenized financial instruments remain on the roadmap. The service relies on multi-layer key management controls.

However, retail investors cannot access the service. Instead, it targets corporate and investment bank clients, including asset managers, hedge funds, brokers, and sovereign institutions.

The launch follows a long road. Deutsche Bank applied to the German regulator BaFin in June 2023, roughly 41 months ago. Notably, Commerzbank secured a custody license in 2023, while three other German applicants won approval during that wait.