Germany’s largest bank wants to offer crypto custody services

Deutsche Bank, Germany's largest bank, is seeking regulatory approval to operate a digital asset custody service, marking a significant shift in its business strategy. The financial landscape in Germany is poised for a significant shift, as the country’s largest banking institution, Deutsche Bank AG, makes strategic strides into the realm of cryptocurrency. David Lynne, the head of Deutsche Bank’s commercial banking unit, disclosed that the bank has filed its application with BaFin, the German securities regulator, a major step in realizing their digital asset ambitions. This move represents a broader approach by the bank to augment fee income.

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