Deutsche Bank, one of the world's largest banks with assets exceeding $2.2 trillion and presence in 58 countries, is preparing to launch a comprehensive cryptocurrency custody service in Germany.
In a few weeks, clients will be able to secure their digital assets with the regulated lender. Gerald Podobnik, co-head of Deutsche Bank, called this part of the strategy to tap into new sources of the digital economy and achieve a compound annual growth rate in corporate banking of 8 percent by 2028. On the sidelines of the International Monetary Fund and World Bank meetings in Bangkok, he told Reuters that the launch will also extend to Asian countries serving as financial hubs to attract clients to the bank's platform.
Podobnik emphasized the importance of the digital economy, citing stablecoins and the growth of this asset class as examples. According to him, recent years have seen a rapid growth of new liquidity classes related to digital assets. The financial system needs to offer clients tokenized or blockchain solutions as additional services alongside traditional ones, but not necessarily to replace current operations, he hinted at a future hybrid concept of the global financial system. The bank plans to launch tokenization services, including tokenized deposits and a platform to help clients issue blockchain-based securities, including digital bonds.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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