Deutsche Bank launches digital asset custody service
Deutsche Bank launches digital asset custody service FRANKFURT, Nov 11 (Reuters) - Deutsche Bank DBKGn.DE said on Wednesday that its digital asset custody service had gone live for paying clients, as European banks show increasing openness to digital markets.
Germany's largest lender initially announced in September that it planned a custody service for institutional and corporate clients in Europe, pending regulatory approvals.
It said at the time that the business would support the safekeeping and storage of digital assets, including bitcoin and ether.
"In the medium term we aim to deliver a fully integrated, regulated ecosystem that supports the custody, tokenisation, and settlement of digital assets," said Paul Maley, global head of trust and securities services at Deutsche Bank.
Deutsche Bank has previously told Reuters it wanted to expand the offering to Asia.
Deutsche Bank also said on Wednesday that it had entered into a memorandum of understanding with Deutsche Asset Management, the money manager it mostly owns and that until recently was known as DWS.
The agreement is "to explore comprehensive commercial and technical collaboration opportunities in the digital asset space".
(Reporting by Tom Sims, editing by Thomas Seythal)
((Tom.Sims@thomsonreuters.com))