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 <ul> 
  <li>Deutsche Bank will offer crypto custody services for institutional investors.</li> 
  <li>Deutsche Bank in a World Economic Forum paper in 2020 expressed intentions of offering crypto trading.</li> 
  <li>The bank has however clarified that it currently does not have plans to offer crypto trading.</li> 
 </ul> 
 <p>Deutsche Bank has partnered with Taurus, a Swiss cryptocurrency firm, to offer digital assets and tokenized financial instruments custody services for institutional clients.</p> 
 <p>This collaboration marks a significant development as it enables Deutsche Bank to hold a limited selection of cryptocurrencies and tokenized versions of traditional financial assets on behalf of its clients, a capability confirmed by a Deutsche Bank spokesperson. However, the bank has clarified that it currently does not have immediate plans to engage in cryptocurrency trading, despite previously expressing such intentions in a World Economic Forum paper in 2020.</p> 
 <h2 id="crypto-interest-among-institutional-investors">Crypto interest among institutional investors</h2> 
 <p>The <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency market has faced challenges in recovering from a series of high-profile collapses among leading <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency firms in the past year, resulting in substantial losses for investors and calls for increased regulatory oversight from lawmakers worldwide.</p> 
 <p>Nevertheless, numerous mainstream financial institutions are exploring the potential application of blockchain technology, the underlying technology behind <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies, for the trading and settling conventional financial assets. Notably, financial institutions like Standard Chartered, BNY Mellon, and Societe Generale already offer <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency <a rel="dofollow" title="custody" href="https://thebittimes.com/tag/custody.html">custody</a> <a rel="dofollow" title="services" href="https://thebittimes.com/tag/services.html">services</a>.</p> 
 <p>Paul Maley, Deutsche Bank’s global head of securities services, emphasized the growing importance of the digital asset space, expected to encompass trillions of dollars in assets, making it a priority for both investors and corporations.</p> 
 <p>The cryptocurrency market, as per CoinGecko data, is currently valued at approximately $1.1 trillion, down from its peak of just over $3 trillion in November 2021. Maley highlighted that their focus extends beyond cryptocurrencies, as they aim to support clients across the broader digital assets ecosystem.</p> 
 <p>Maley responding to US regulators’ caution about potential liquidity risks associated with <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency activities stated that Deutsche Bank is proceeding cautiously, aligning with the spirit and regulations governing this asset class. He emphasized that their product design and <a rel="dofollow" title="custody" href="https://thebittimes.com/tag/custody.html">custody</a> solutions are structured to mitigate the risk of impacting the bank’s other activities.</p> 
</div>
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/deutsche-bank-taps-swiss-crypto-firm-taurus-for-custody-services-tbt62770.html">https://thebittimes.com/deutsche-bank-taps-swiss-crypto-firm-taurus-for-custody-services-tbt62770.html</a></p>

Deutsche Bank taps Swiss crypto firm Taurus for custody services

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