Deutsche Bank’s crypto custody service is weeks from launch, with bitcoin and ether set to come first as the lender builds a broader digital asset business. Gerald Podobnik, co-head of its corporate bank, outlined the plans on October 16 during the IMF and World Bank meetings in Bangkok.
The bank’s first digital asset service will launch in Germany, followed by a planned expansion into Asian financial centres in 2027. The initiative forms part of its strategy to deliver 8% compound annual growth in corporate banking by 2028, Podobnik said.
The offering targets institutional and corporate clients. Deutsche Bank’s product material describes custody and transfers as its initial core functions, with the bank managing clients’ wallets and private keys.
Deutsche Bank’s crypto custody plans extend beyond bitcoin and ether
Deutsche Bank’s crypto custody rollout will begin with major cryptocurrencies such as bitcoin and ether, while services allowing clients to move money into and out of mainstream stablecoins are planned for a later phase.
Its September 16 release listed USDC, EURC and EURAU alongside bitcoin and ether among selected assets intended for custody. That asset list is distinct from the later stablecoin conversion services described by Podobnik: support for holding a token does not itself establish that clients can convert money into or out of it at launch.
Podobnik linked the push to the digital economy’s growth, pointing to hundreds of billions of dollars held in stablecoins. He described blockchain-based products as additions to existing banking services, rather than necessarily replacements.
Clients would need tokenised or blockchain solutions “as additional services alongside our traditional ones,” he said.
In addition to custody and stablecoin offerings, Deutsche Bank intends to provide tokenised deposits and to assist clients in issuing blockchain-based securities, such as digital bonds.
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.