Deutsche Bank plans 2027 Asia crypto custody as German launch nears

Deutsche Bank plans to extend its crypto custody service to Asia in 2027, with the German launch due within weeks, according to Reuters and CoinDesk. Reuters cited the bank's co-head for the plan.

Germany's financial regulator, BaFin, authorized the bank under the EU's Markets in Crypto-Assets rules on Oct. 12, according to ESMA's interim register cited by CoinDesk, but the German launch remains subject to regulatory approval.

The bank said in September that its initial offering would support bitcoin, ether and stablecoins including USDC, EURC and EURAU, CoinDesk reported. Corporate and institutional clients would hold and transfer cryptocurrencies while the bank runs the technology that secures them, so clients would not manage wallets or private keys themselves.

Deutsche Bank has worked with Bitpanda and Taurus on its custody plans, CoinDesk reported, and joins Standard Chartered and BBVA in offering crypto custody. Podobnik, the co-head cited by Reuters, tied the expansion to Deutsche Bank's broader plan for roughly 8% compound annual revenue growth in its corporate bank from 2025 to 2028.