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 <p class="is-style-lead">On Sep. 14, Deutsche Bank, an international financial institution headquartered in Germany, divulged its strategic foray into crypto and blockchain technology after collaborating with Taurus, a Swiss enterprise with expertise in multiple domains—ranging from the issuance of <a rel="dofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> currencies to the secure custody and trading of tokenized <a rel="dofollow" title="asset" href="https://thebittimes.com/tag/asset.html">asset</a>s and non-fungible tokens (NFTs).</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.https://t.co/HRJx76NvWt pic.twitter.com/EhTB3gsJgF</p>— Taurus (@taurus_hq) September 14, 2023
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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 <a rel="dofollow" title="services" href="https://thebittimes.com/tag/services.html">services</a> 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 tokenization 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> 
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 <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 impending crisis earlier in March 2023. </p> 
 <p>Furthermore, Deutsche Bank has previously 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 report by the World Economic Forum’s(WEF) 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 <a rel="dofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> and traditional <a rel="dofollow" title="asset" href="https://thebittimes.com/tag/asset.html">asset</a>s. </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> 
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Deutsche Bank: Crypto Adoption Rate Similar to Early Years of the Internet 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/deutsche-bank-partners-with-swiss-firm-taurus-to-offer-digital-asset-services-tbt62777.html">https://thebittimes.com/deutsche-bank-partners-with-swiss-firm-taurus-to-offer-digital-asset-services-tbt62777.html</a></p>

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

TheBitTimes

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