Overview
- Deutsche Bank announced on Wednesday that its initial custody service will support Bitcoin, Ether and three stablecoins: USDC, EURC and EURAU.
- The product is aimed only at institutional and corporate clients such as asset managers, hedge funds, brokers, custodians and sovereign institutions and will not accept retail accounts.
- Under the plan the bank will operate wallets and manage private keys for clients and will use layered security controls including secure key generation, hardware protection, separate warm and cold storage, multiperson approvals and selected external technology providers.
- The launch remains subject to regulatory sign‑off and the bank has not yet disclosed key operational details such as which European countries will be included, client fees, insurance coverage, exact partners or links to trading venues.
- The move follows years of preparation and fits a wider push by large banks into custody services, and it leaves clients with crypto‑specific risks to manage because assets held in custody will not carry traditional bank deposit guarantees and blockchain transfers can be irreversible.