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<p class="is-style-lead">On Sep. 14, Deutsche Bank, an international financial institution headquartered in Germany, divulged its <a href="https://www.taurushq.com/blog/deutsche-bank-and-taurus-sign-a-global-partnership/?utm_content=168889804&amp;utm_medium=social&amp;utm_source=twitter&amp;hss_channel=tw-1003712069110202369" data-type="link" data-id="https://www.taurushq.com/blog/deutsche-bank-and-taurus-sign-a-global-partnership/?utm_content=168889804&amp;utm_medium=social&amp;utm_source=twitter&amp;hss_channel=tw-1003712069110202369" target="_blank" rel="noopener noreferrer nofollow">strategic foray</a> into crypto and blockchain technology after collaborating with Taurus, a Swiss enterprise with expertise in multiple domains—ranging from the issuance of digital currencies to the secure custody and trading of tokenized assets and non-fungible tokens (<a href="https://nft.news/?utm_source=crypto.news&amp;utm_medium=referral" data-type="link" data-id="https://nft.news/?utm_source=crypto.news&amp;utm_medium=referral" rel="noopener noreferrer nofollow">NFTs</a>).</p> 
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   <p lang="en" dir="ltr">We’re pleased to announce that Deutsche Bank has entered a global agreement with Taurus! 🤝Deutsche Bank will leverage Taurus custody and tokenization technology to manage cryptocurrencies, tokenized assets, and digital currencies.<a href="https://t.co/HRJx76NvWt" target="_blank" rel="noopener noreferrer nofollow">https://t.co/HRJx76NvWt</a> <a href="https://t.co/EhTB3gsJgF" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/EhTB3gsJgF</a></p>— Taurus (@taurus_hq) <a href="https://twitter.com/taurus_hq/status/1702291100008952093?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 14, 2023</a> 
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<p>Paul Maley, the head of Deutsche Bank’s securities services, stated that this move aligns with the growing demand for digital financial products among their clients. </p> 
<p>Initially, Deutsche Bank aims to provide custody services for selected crypto and certain stablecoins, specifically targeting corporate and institutional clients in their home market regions. </p> 
<p>However, Maley did not elaborate on which specific assets would be included in this service.</p> 
<p>In addition to digital asset custody, Deutsche Bank plans to tokenize traditional financial securities. </p> 
<p>This move is emblematic of a wider industry consensus that views the <a href="https://crypto.news/what-is-tokenization-and-how-tokenized-stocks-impact-financial-market/" data-type="link" data-id="https://crypto.news/what-is-tokenization-and-how-tokenized-stocks-impact-financial-market/" rel="noopener noreferrer nofollow">tokenization </a>of assets as an inevitable progression in the modernization of financial systems. </p> 
<p>Other financial institutions, such as JP Morgan, Goldman Sachs, and Franklin Templeton, are conducting research into the potential of asset tokenization.</p> 
<p> You might also like: <a href="https://crypto.news/taurus-partners-with-polygon-to-advance-tokenization-and-defi/" rel="noopener noreferrer nofollow"> Swiss digital asset infrastructure platform Taurus integrates with Polygon </a> </p> 
<p>The partnership with Taurus isn’t Deutsche Bank’s first venture. </p> 
<p>The bank participated in a $65 million funding round for Taurus in February, led by Credit Suisse, another traditional finance giant before its <a href="https://crypto.news/bitcoin-hovers-at-25k-amid-us-dollar-surge-and-credit-suisse-meltdown/" data-type="link" data-id="https://crypto.news/bitcoin-hovers-at-25k-amid-us-dollar-surge-and-credit-suisse-meltdown/" rel="noopener noreferrer nofollow">impending crisis</a> earlier in March 2023. </p> 
<p>Furthermore, Deutsche Bank has <a href="https://crypto.news/deutsche-bank-awaits-regulatory-approval-to-offer-digital-asset-custody-services/" data-type="link" data-id="https://crypto.news/deutsche-bank-awaits-regulatory-approval-to-offer-digital-asset-custody-services/" rel="noopener noreferrer nofollow">previously </a>applied to Germany’s financial regulator for permission to offer crypto custody services.</p> 
<p>The latest collaboration is seen as a continuation of Deutsche Bank’s initiatives, which were outlined in a December 2020 <a href="https://www3.weforum.org/docs/WEF_Cryptocurrency_Uses_Cases_2020.pdf" data-type="link" data-id="https://www3.weforum.org/docs/WEF_Cryptocurrency_Uses_Cases_2020.pdf" target="_blank" rel="noopener noreferrer nofollow">report </a>by the World Economic Forum’s(<a href="https://crypto.news/tag/wef/" data-type="link" data-id="https://crypto.news/tag/wef/" rel="noopener noreferrer nofollow">WEF</a>) Global Future Council on Cryptocurrencies.</p> 
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<p>The bank’s long-term vision includes developing a custody platform for institutional clients to bridge the gap between digital and traditional assets. </p> 
<p>This platform aims to manage a wide range of digital and fiat holdings in a unified manner, allowing clients to access these assets through secure, insurance-grade hot or cold storage solutions.</p> 
<p>Lamine Brahimi, co-founder of Taurus, expressed enthusiasm for the global partnership, stating that Taurus looks forward to assisting Deutsche Bank in the launch of various digital assets and blockchain-based products and services.</p> 
<p> Read more: <a href="https://crypto.news/deutsche-bank-crypto-adoption-rate-similar-to-early-years-of-the-internet/" rel="noopener noreferrer nofollow"> Deutsche Bank: Crypto Adoption Rate Similar to Early Years of the Internet </a> </p>

Deutsche Bank partners with Swiss firm Taurus to offer digital asset services

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