From words to action: Deutsche Bank creates its crypto-asset custody service

From words to action: Deutsche Bank creates its crypto-asset custody service

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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From words to action: Deutsche Bank creates its crypto-asset custody service
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