Deutsche Bank had been evasive about its real intentions regarding cryptomoney, but after several months of hints and positive statements on the subject, Germany’s largest bank – with assets of nearly $1.8 trillion – has taken the plunge into the field of crypto-activity storage.
This is not surprising, as the bank’s analysts have made very optimistic remarks about Bitcoin (BTC) in recent months. They have also described the fiat currencies as a « fad » without interest. In 2019, the bank warned that fiat currencies were wavering, and said the rise of crypto-actives was « inevitable ».
Although Deutsche Bank has refrained from making a public statement, it seems that it fulfilled its commitments as early as last year: very few had noticed until the media picked up this weekend on a World Economic Forum paper originally published in December 2020. Entitled « Crypto, What Is it Good for? An Overview of Cryptocurrency Use Cases », the document included a section entitled « Deutsche Bank Digital Asset Custody ».
The authors wrote that the bank plans to create a « secure connected bridge between a customer’s digital assets and traditional banking services », and to allow customers to access their « digital assets and fiat assets from an easy-to-use platform ».
And like many other international banks, the report notes that the bank hopes to « offer a « storage solution » for institutional-quality hot and cold portfolios, with « additional insurance protection ».
The authors added that the initial technical work on the project had already been completed, and the international testing phase was now underway – with possible deployment as early as this year.
The bank has its proof of concept in hand and aims to have a minimum viable product in place by 2021, while also considering the suitability of a pilot initiative with its international clientele.
To buy cryptomoney; SEPA Zone Europe and French citizens:
To buy cryptoskills in Canada:
To buy cryptoskills by credit card or bank card:
To open a Bitcoin savings plan, go to the regulated platform StackinSat.
To secure or store your cryptomoney:
To invest in mining or masternodes:
To trade your cryptos anonymously:
To earn interest on your Bitcoins:
To accumulate cryptos through gambling:
If you want to learn more about Bitcoin and investing in cryptos, here are two perfect books: « Understanding Bitcoin in 2 hours » and « Investing in Bitcoin ».
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