Investment bank Deutsche Bank AG has applied to provide cryptocurrency custody services in Germany, per a June 20 Bloomberg report.
Deutsche Bank’s head of commercial banking unit, David Lynne, reportedly confirmed the bank’s application during a conference on Tuesday, saying:
“We’re building out our digital assets and custody business. We just put our application into the BaFin for the digital asset license.”
BaFin is Germany’s top financial regulator.
According to Lynne, the bank is implementing this action as part of a broader strategy to enhance its fee income. Furthermore, this initiative supports the expansion endeavors of DWS, the subsidiary asset management firm, in generating revenue through digital asset-related offerings.
Deutsche Bank was yet to respond to CryptoSlate’s request for comment as of press time.
Deutsche Bank is the largest bank in Germany and the ninth-largest bank in Europe. The bank manages around $1.3 trillion in assets, according to S&P Gl
We współpracy z: https://cryptoslate.com/deutsche-bank-applies-for-digital-asset-custody-license-in-germany/
