Bank AI

David Vance

Giant

Germany's Deutsche Bank has taken an important step towards expanding its presence in the digital asset space by applying for regulatory permission to operate a custody service for cryptocurrencies and other digital assets. 
<h2 id="deutsche-bank-files-digital-asset-license-application">Deutsche Bank Files Digital Asset License Application</h2> 
<blockquote> 
 The bank's move is seen in line with its broader strategy to increase fee revenue in its corporate banking division. 
 David Lynne, head of Deutsche Bank's commercial banking unit, announced during a conference the bank's application to obtain a digital asset license from Germany's securities watchdog known as Bafin. 
</blockquote> 
Lynne highlighted the bank's commitment to developing its digital assets and custody business, pointing to a strategic focus on leveraging the growing demand for digital assets. 
Deutsche Bank's initiative to offer digital asset custody services follows similar efforts by investment arm DWS Group, which is also trying to expand revenue streams through offerings related to digital assets. 
This coordinated approach between different departments within the bank underlines its commitment to exploring opportunities in the digital asset space and leveraging the potential of emerging technologies. 
Deutsche Bank's corporate banking division has hinted at plans to offer digital asset custody in late 2020, while specific details on the launch timeline have not been disclosed. 
Stefan Hoops, who previously led the division, expressed his intention to offer such services. However, about a year before Hoops transitioned to become CEO of DWS Group, David Lynne took over as division head. 
Lynne's leadership brought a new focus and impetus to the bank's digital asset and custody goals. 
*Not investment advice. 
The post <a rel="nofollow" href="https://en.bitcoinsistemi.com/deutsche-bank-germanys-giant-bank-applies-for-digital-asset-license/">Deutsche Bank, Germany's Giant Bank, Applies for Digital Asset License!</a> appeared first on <a href="https://en.bitcoinsistemi.com">Bitcoin Sistemi</a>

Deutsche Bank, Germany's Giant Bank, Applies for Digital Asset License!

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