Deutsche Bank to hold crypto for institutional clients

Deutsche Bank has partnered with Swiss crypto firm Taurus to provide custody services for institutional clients' cryptocurrencies and tokenized assets, Taurus said in a statement on Thursday. The partnership means Deutsche Bank will, for the first time, be able to hold a limited number of cryptocurrencies for its clients, as well as tokenized versions of traditional financial assets, a Deutsche Bank spokesperson said. Deutsche Bank said it aimed to offer crypto trading in a World Economic Forum paper back in 2020. Various banks, including Standard Chartered, BNY Mellon and Societe Generale, offer crypto custody services. The crypto market is worth around $1.1 trillion.

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