Deutsche Bank launches digital asset custody service
From Ekonominin Sesi - International (English) · 00:01:33
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Deutsche Bank has introduced its Digital Asset Custody offering, less than two months after announcing plans to provide custody for bitcoin, ether, USDC, EURC and EURAU to corporate and institutional clients throughout Europe, pending regulatory approval. The service is now live. Clients can hold these assets with the bank, which manages their wallets and private keys, and make transfers to others. The custody platform combines warm and cold storage, hardware-based protection for private keys, and transaction approvals involving multiple people. Paul Maley, the bank’s global head of trust and securities services, said in Wednesday’s announcement that the goal over the medium term is to deliver a fully integrated, regulated ecosystem for the custody, tokenization and settlement of digital assets. Deutsche Bank and Deutsche Asset Management signed a memorandum of understanding to explore tokenized money market funds, crypto-asset exchange-traded commodities and stablecoins. The firms will look at custody and settlement arrangements, liquidity management, treasury and distribution using Deutsche Bank’s Digital Asset Custody platform. Manfred Bauer, chief product officer at Deutsche Asset Management, said the firm was planning to launch a tokenized money market fund. Deutsche Asset Management already offers crypto-asset exchange-traded commodities and is involved in AllUnity, a stablecoin venture backed by DWS, Flow Traders and Galaxy. As of Sept. 30, Deutsche Asset Management said it had €1.22 trillion ($1.36 trillion) in assets under management. https://ekonomininsesi.com/en/deutsche-bank-goes-live-with-digital-asset-custody-service-signs-asset-management-deal-33631
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