Deutsche Bank to Offer Bitcoin and Ether Custody in Europe

Deutsche Bank announced Wednesday, via The Block, that it intends to introduce a digital asset custody platform for European corporate and institutional clients later this year, pending regulatory clearance.

Early support will cover bitcoin, ether, and three named stablecoins: USDC, EURC, and EURAU. The bank indicated that initial users will come from its existing Corporate Bank and Investment Bank client base, which includes sovereign institutions, brokers, custodians, hedge funds, asset managers, and corporates.

The bank explained that the service will oversee clients’ wallets and private keys. This enables them to possess digital assets and move them to third parties without establishing their own custody infrastructure.

Gerald Podobnik, Co-Head of Corporate Bank at Deutsche Bank, characterized digital assets as “not a replacement for the traditional financial system,” positioning them instead as a complement to existing market infrastructure.

Hardware-based key protection, multi-person approvals, and distinct warm and cold storage environments will underpin the custody service. Backup and recovery controls are also included. Selected external technology and infrastructure providers will manage specific technical components, per the bank.

Deutsche Bank observed that the available asset list might grow in the future. This depends on client demand, alongside the bank's product-approval, risk management, and regulatory procedures. Tokenized financial instruments are likewise part of the roadmap.