Deutsche Bank applies for crypto custody license in Germany Deutschebank BaFin Germany
- German investment bank Deutsche Bank AG is the latest large financial institution looking to get more involved in the cryptocurrency space and has applied with BaFin, Germany’s financial regulator, seeking permission to operate a custody service for digital assets.
Cryptocurrency custody services refer to the secure storage and management of digital assets on behalf of institutional and individual investors and include the storage of private keys in highly secure offline or online storage solutions. That same month, it was also disclosed that Deutsche Bank took part in a $65 million Series B funding round for Geneva-based Taurus Technology, a digital asset infrastructure provider for European financial institutions. Taurus plans to use the funds to support its growth strategy, hire top engineering talent, and expand its presence across Europe and the United Arab Emirates.
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