According to reports, Deutsche Bank is collaborating with Bitpanda and Taurus to introduce crypto asset custody services by 2026, expanding its digital asset strategy across Europe.
Germany’s largest bank, Deutsche Bank, is reportedly planning to allow clients to custody cryptocurrencies like Bitcoin starting next year.
Bloomberg reported on Tuesday that Deutsche Bank intends to partner with Bitpanda’s technology division to launch digital asset custody services in 2026.
Citing unnamed sources, Bloomberg revealed that Taurus, a Swiss tech service provider backed by Deutsche Bank, will also contribute to developing the crypto custody solution.
If confirmed, this would mark a significant step in Deutsche Bank’s crypto custody market strategy since first expressing interest in 2020.
Deepening Engagement in Crypto
Deutsche Bank has steadily increased its involvement in the cryptocurrency sector in recent years.
In early June 2024, Sabih Behzad, Deutsche Bank’s Head of Digital Assets, stated that the bank is exploring entry into the stablecoin market—either by issuing its own stablecoin or participating in existing projects.
"We recognize the growing momentum behind stablecoins, especially as U.S. regulations become more favorable," Behzad noted, adding:
"Banks can engage in multiple ways—acting as reserve custodians or independently/jointly issuing their own stablecoins."
Additionally, Deutsche Bank is evaluating the development of a proprietary tokenized deposit solution for payments.
Not Its First Move in Crypto Custody
Late last year, Deutsche Bank reportedly developed its own Layer 2 (L2) blockchain on Ethereum using ZKsync technology.
In 2023, after applying for a digital asset custody license from German regulators, Deutsche Bank announced a partnership with Taurus to launch crypto custody services.
Since June 2024, the bank has also collaborated with Bitpanda to enhance the exchange’s crypto payment capabilities.
Deutsche Bank did not immediately respond to Cointelegraph’s request for comment. Bitpanda declined to confirm or deny the reports.
This news coincides with German financial giant Sparkassen-Finanzgruppe’s plans to offer crypto trading services to its 50 million customers.
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FAQ Section
Q1: When will Deutsche Bank’s crypto custody services launch?
A: The bank aims to introduce the service by 2026 in partnership with Bitpanda and Taurus.
Q2: What cryptocurrencies will Deutsche Bank support?
A: While specifics are unconfirmed, Bitcoin is expected to be included, with potential additions based on regulatory and market demand.
Q3: Is Deutsche Bank developing its own blockchain?
A: Yes, the bank previously explored creating a proprietary Ethereum L2 solution using ZKsync.
Q4: Will Deutsche Bank issue a stablecoin?
A: The bank is evaluating stablecoin opportunities but hasn’t finalized plans for issuance.
Q5: How does this compare to other European banks?
A: Deutsche Bank joins a growing list of institutions, like Sparkassen, integrating crypto services to meet client demand.
👉 Learn why institutional crypto custody is gaining traction
Key Takeaways
- Strategic Partnerships: Bitpanda and Taurus are key collaborators for Deutsche Bank’s custody rollout.
- Regulatory Readiness: The bank secured a digital asset custody license in 2023.
- Market Expansion: Services align with Europe’s push toward regulated crypto adoption.
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