Deutsche Bank (DB) intends to extend its crypto asset custody service into Asia by 2027, according to reports. At the same time, the German banking giant is preparing to roll out the service in Germany within the coming weeks, further broadening its presence in the digital asset sector.
The service will initially support Bitcoin, Ethereum, and stablecoins such as USDC, EURC, and EURAU, with the bank handling clients' digital wallets and private keys.
Citing remarks from the co-head of Deutsche Bank, reports said the lender also plans to offer stablecoin conversion, tokenized deposits, and assistance to clients in issuing digital bonds and other securities built on blockchain technology.
Such a move could allow institutional clients in Asia to access crypto-related services through an established global bank without having to manage crypto wallets or private keys on their own. It remains unclear, however, which Asian financial markets Deutsche Bank will enter first.
Deutsche Bank's crypto custody service will let corporate and institutional clients hold and transfer cryptocurrencies, with the bank providing the technical support needed to safeguard assets. In September, the bank said the first assets supported would include Bitcoin, Ethereum, and stablecoins such as USDC, EURC, and EURAU. The official launch of the service in Germany still requires regulatory approval.
According to the European Securities and Markets Authority's (ESMA) interim register, Deutsche Bank received authorization from Germany's financial regulator BaFin on October 12 under the European Union's Markets in Crypto-Assets Regulation (MiCA).
Podobnik said expanding crypto services is part of Deutsche Bank's broader strategy. The bank aims to achieve a compound annual growth rate of about 8% in corporate banking revenue between 2025 and 2028. As major banks seek to play a bigger role in managing digital assets for institutional clients, entering Asia would extend Deutsche Bank's crypto custody reach beyond Europe. Deutsche Bank has previously partnered with Bitpanda and Taurus to advance its crypto custody business and will join competitors such as Standard Chartered and BBVA in offering crypto custody services to clients.
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