Deutsche Bank Applies for License to Provide Crypto Custody Services
Deutsche Bank AG has embarked on a notable venture into the realm of cryptocurrencies by initiating the process of obtaining a digital assets license from BaFin, the financial regulator of Germany. With the objective of positioning itself as a trusted custodian of digital assets, the bank intends to introduce cryptocurrency custody services.
According to a report by Bloomberg, David Lynne, the head of Deutsche Bank's commercial banking unit, officially announced the submission of the license application during a recent press conference. Lynne underscored the bank's unwavering dedication to expanding its digital assets and custody operations, emphasizing that their application to BaFin signifies a pivotal milestone in this pursuit.
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