Main navigation

Deutsche Bank Attempts to Gain Crypto Custody Service License: Details

Tue, 06/20/2023 - 12:28
article image
Yuri Molchan
German banking giant intends to burst into crypto space, now seeks license
Deutsche Bank Attempts to Gain Crypto Custody Service License: Details
Cover image via
Read U.TODAY on
Google News

A recent Bloomberg piece says that German banking behemoth Deutsche Bank seeks a license to offer its customers a crypto custody service.

According to the head of the bank's commercial banking unit, David Lynne, the company has just submitted an application file into the Bafin (the German securities regulator), waiting now to get official regulatory permission to deal with cryptocurrencies.

This step has been taken as part of the bank's currently chosen strategy to raise fee income at the company's corporate bank, per Lynne. Besides, Deutsche Bank's investment company DWS Group is now seeking to raise its profits from crypto-related services, so Deutsche Bank's commercial bank intends to do the same.

Japanese Crypto Exchanges Taking Risky Step to Help Crypto Space Grow: Bloomberg

Plans to enter the crypto space and offer crypto custody services to customers were first voiced back in 2020. However, no specific dates were named as to when this would be conducted.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at