HomeBITCOINDeutsche Bank to Provide Bitcoin and Crypto Custody Services for Institutional Investors,...

Deutsche Bank to Provide Bitcoin and Crypto Custody Services for Institutional Investors, Valued at €1.3 Trillion

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Reuters has reported that Deutsche Bank, the German banking giant, has formed a partnership with Swiss cryptocurrency firm Taurus to provide Bitcoin and crypto custody services to its institutional clients. Paul Maley, Deutsche Bank’s global head of securities services, stated that with the expected growth of the digital asset space, it has become a priority for both investors and corporations. He also emphasized that their focus is not only on cryptocurrencies but on supporting clients in the overall digital assets ecosystem. The timing of this announcement coincides with improving regulatory clarity in the industry. Governments and financial regulators worldwide have been working towards establishing clear guidelines for the use and trading of digital assets. Deutsche Bank is proceeding cautiously and in compliance with regulations to ensure the safety of its other activities. The recognition of Bitcoin as a legitimate asset class has increased its appeal to hedge funds, family offices, and institutional investors. Deutsche Bank’s decision to enter this market is seen as a strategic move to tap into this growing market.

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