Deutsche Bank to Launch Crypto Custody Service Within Weeks, Eyes Asia Expansion in 2027

Deutsche Bank, Germany’s largest bank, plans to launch a cryptocurrency custody service within weeks and expand the business into major Asian financial markets in 2027.

Wu Blockchain reported on October 16 that Gerald Podobnik, co-head of corporate banking at Deutsche Bank, said the bank was preparing to roll out the crypto custody service and later expand the business to Asia’s financial hubs.

Deutsche Bank plans to support major cryptocurrencies, including Bitcoin and Ether, in the initial phase of the custody service. It also plans to add a service that converts fiat currencies into stablecoins.

Alongside the custody business, the bank will expand its blockchain-based financial services. Deutsche Bank plans to offer tokenized deposits to corporate clients and support the issuance of blockchain-based securities, including digital bonds.

Tokenized deposits are traditional bank deposits represented in digital form on a blockchain and can be used for financial transactions and fund transfers. Digital bonds are also securities issued and managed using blockchain technology and are drawing attention as a tool for the digital transformation of traditional financial products.

The expansion is part of Deutsche Bank’s corporate banking growth strategy. The bank aims to meet corporate demand for digital finance by broadening its services beyond crypto custody to include stablecoin conversion and the issuance of tokenized financial products.

Deutsche Bank plans to first launch the cryptocurrency custody service, then expand related financial services in stages and extend the business to major Asian financial hubs starting in 2027.