BTC PULSE
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
Play Now
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Regulation

Deutsche Bank Seeks Regulatory Approval for Digital Asset Custody Services

by Dan K
Jun 20, 2023 - 8:00 pm
in Regulation
Infographic highlighting the $5.8 billion in fines paid by crypto firms in 2023, a historic high in the financial sector.

Deutsche Bank’s Strategic Move

Deutsche Bank, one of the world’s premier financial institutions, is on the cusp of a significant shift in its operations. The bank recently submitted an application to Bafin, the German securities regulator, in a bid to gain approval for providing custody services for digital assets, including cryptocurrencies.

This step indicates the bank’s proactive stance in embracing the digital asset space as part of its broader strategy to diversify revenue streams and boost its corporate banking unit’s income from fees.

Official Confirmation

David Lynne, head of Deutsche Bank’s commercial banking unit, officially confirmed the application at a recent conference. He announced that the institution was in the process of expanding its digital assets and custody business, signifying Deutsche Bank’s growing recognition of the potential of digital assets.

The bank has officially submitted its application to Bafin for a digital asset license, building on previous hints towards the introduction of digital asset custody.

History of Digital Interest

The corporate bank division, under the leadership of Stefan Hoops, initially hinted at plans to offer digital asset custody back in late 2020. However, no specific timeline was provided for the launch of this service.

When Hoops transitioned to the role of CEO at Deutsche Bank’s investment arm, DWS Group, Lynne took over the division. Under Hoops, the DWS Group has continued to make progress in the digital asset space, seeking to bolster its income from offerings tied to digital assets.

Future Plans

As Deutsche Bank awaits regulatory approval, it continues to concentrate on its growth strategy. Digital assets play a significant role in these future plans, reflecting the increasing interest and acceptance of digital assets within the traditional financial sector. The potential for Deutsche Bank’s entry into the digital asset custody arena is a clear indicator of this growing trend.

Tags: CryptocurrencyEuropeRegulation
Dan K

Dan K

Dan K, the chief editor, is a visionary wordsmith, shaping narratives with finesse. His discerning eye for detail creates literary masterpieces.

Related Posts

SUS Capitol building with digital crypto symbols, symbolizing upcoming regulatory discussions in Congress.

US Lawmakers Expected to Propose Crypto Regulation by November — Anthony Scaramucci

February 4, 2025

Anthony Scaramucci suggests US lawmakers may propose crypto regulations by Nov 2024 to gain support from the industry...

Former Binance CEO Changpeng Zhao warning about crypto security exploit affecting Apple devices

CZ Warns Crypto Community of New Exploit Targeting macOS and iPhone Users

November 21, 2024

CZ warns the crypto community of zero-day exploits on Intel Macs and iPhones, urging updates to protect sensitive...

Cathie Wood of ARK Invest discusses the impact of SEC deregulation on the US economy

Defanging the SEC: How Regulatory Shifts Could Turbocharge the US Economy

November 11, 2024

Cathie Wood foresees US economic growth through SEC deregulation, tech innovation, and pro-crypto policies under Trump. Emerging tech...

Bolivian bank Banco Bisa launches a USDT custody service, enabling clients to buy, sell, and transfer USDT

Bolivia Embraces Crypto Momentum: Banco Bisa Launches USDT Custody Service

October 28, 2024

Bolivia's Banco Bisa introduces USDT custody service, allowing clients to securely buy, sell, and transfer stablecoins within a...

Press Releases

image2

Could XYZVerse Overtake DOGE and SHIB? Analysts Say $0.003333 Could Explode to $10!

March 30, 2025

XYZVerse aims to outpace DOGE and SHIB, with bold $10 price goals, strong community rewards, and rising demand as it...

image1 1

Massive Institutional BTC Buys Could Launch the Next Bull Market: 5 Altcoins to Watch

March 29, 2025

Institutional Bitcoin buys may trigger a market surge. Five altcoins, including $XYZ, stand to gain—early investors could see major ROI...

image1

XRP Faces Strong Resistance While XYZVerse Gains Early Investor Attention With 10 Billion $XYZ Airdrop

March 28, 2025

XRP struggles at resistance, while XYZVerse grabs early investor attention with a 10B token airdrop and rapid growth toward a...

BTC

Popular Memecoin MEW Pledges $10,000 to Pasadena Humane Organization to Aid Animals Affected by California Wildfires

January 20, 2025

MEW memecoin donates $10K to Pasadena Humane for wildfire-affected animals. Join the mission to aid pets and wildlife in crisis...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise