Deutsche Bank has revealed plans to start offering digital currency custody, alongside other crypto-related services, making it one of many other such institutions that jump on the cryptocurrency market. These services are planned to be available only to institutional clients.
The bank actually revealed these plans last December in a report released by the World Economic Report Forum, but no one seemed to focus on it, and as a result, was overlooked.
For now, the German bank is initiating only crypto custody services, however, its future plans hint at the introduction of tokenizations and trading. Deutsche Bank announced that it will partner with top tier brokers, exchanges, and issuers in order to offer trading capabilities to institutionalized clients.
The bank will additionally integrate other services such as fund administration, taxation services, lending services, on top of proving an open-banking platform allowing for the participation of third party providers.
For now, all of this is just a model of what is to come. Furthermore, there is no official deadline for any of these services!
The German Bak isn’t the only major banking institution to be planning crypto-related services as part of its overall package. Last year, Belarus launched its own crypto trading services, while Swiss Bank became the first institution ever to offer tokenized shares. Meanwhile, payment services giant MasterCard will be offering crypto payments as an option.