David Lynn, head of Deutsche Bank’s commercial division, confirmed this fact and said that the company is actively developing its own digital assets and custodial business.
According to Deutsche Bank, the digital asset storage platform will be launched in stages. It is planned that the new product will allow users to buy and sell digital assets through primary brokers and provide services such as taxation, valuation and fund management services, lending, betting, voting and much more.
Recall that the company began to study the possibility of hot/cold storage of digital assets back in 2021. DWS CEO Stefan Hoops previously noted that the low price of cryptocurrency can create interesting opportunities for the bank.
Deutsche Bank has been working in this direction for a long time. Most recently, the asset management group of DWS bank began negotiating the acquisition of a minority stake in two crypto companies – the supplier of exchange products Deutsche Digital Assets and the trading firm Tradias.