German Investment Bank Deutsche Bank to Offer Crypto Custody Services in Collaboration with Taurus
German investment bank Deutsche Bank has partnered with Swiss fintech firm Taurus to provide crypto custody services for institutional clients. Taurus, founded in 2018, focuses on building secure and compliant crypto infrastructure for institutional players. Now, with this collaboration, Deutsche Bank will integrate Taurus’ protocols to offer crypto custody and tokenization services.
Crypto Market Becoming a Top Priority for Investors and Companies
The Global Head of Securities Services at Deutsche Bank, Paul Maley, emphasized the growing importance of digital assets for investors and companies. He expressed excitement about partnering with Taurus due to their expertise and track record in the crypto and tokenization space.
Taurus has not disclosed when the integration with Deutsche Bank will be live.
Institutionalization of Crypto Gaining Momentum
While regulatory uncertainty and other factors have hindered institutional involvement in cryptocurrencies, the industry has recently witnessed a shift. BlackRock’s filing for a spot Bitcoin ETF marked a turning point this summer, followed by numerous applications from companies like VanEck, Fidelity, and Invesco. In addition to Deutsche Bank, Standard Chartered, BNY Mellon, and Societe Generale have also started offering crypto custody services.
Hot Take: Institutional Adoption of Crypto Continues to Surge
The partnership between Deutsche Bank and Taurus highlights the increasing interest of major institutions in the crypto market. As digital assets gain prominence as a top priority for investors and companies alike, more financial institutions are recognizing the need to offer crypto-related services. With Deutsche Bank joining other major players in providing crypto custody services, it is evident that the institutionalization of crypto is rapidly gaining momentum.
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