Deutsche Bank will expand its European digital asset initiatives by launching a crypto custody service with Bitpanda and Taurus in 2026.
Deutsche Bank, Germany’s largest bank, may allow Bitcoin storage next year.
Bloomberg reported Tuesday that Deutsche Bank and Bitpanda’s technology business will create a digital assets custody service in 2026.
Sources tell Bloomberg that Deutsche Bank-backed Swiss technology vendor Taurus will help develop the crypto custody service.
Deutsche Bank’s latest intentions signaled its latest attempt to enter the crypto storage business in 2020.
Heavy Crypto Participation
Deutsche Bank’s cryptocurrency interest has grown in recent years.
Deutsche Bank’s head of digital assets, Sabih Behzad, expressed interest in entering the stablecoin market in early June by releasing its stablecoin or joining existing projects.
“We can certainly see the momentum of stablecoins along with a regulatory supportive environment, especially in the US,” Behzad said, adding:
“Banks have a wide variety of options available to engage in the stablecoin industry — everything from acting as a reserve manager, through to issuing their own stablecoin, either alone or in a consortium.”
Deutsche Bank is also considering creating a tokenized deposit solution for payments.
Not the first crypto custody launch.
Deutsche Bank developed an Ethereum layer-2 (L2) blockchain utilizing ZKsync late last year.
Deutsche Bank said in 2023 that it would provide crypto custody solutions with Taurus after obtaining a German digital asset custody license.
Deutsche Bank has helped Bitpanda improve crypto payments since June 2024.
Cointelegraph approached Deutsche Bank for comment, but it did not answer. Bitpanda did not confirm or reject the report.
On Tuesday, Sparkassen-Finanzgruppe, another big German bank, announced plans to offer crypto trading to its 50 million members.
