Deutsche Bank Teams Up with Taurus for Crypto Custody and Tokenization Services
German banking giant Deutsche Bank has announced a global partnership with Swiss digital asset infrastructure firm Taurus. This collaboration aims to support the bank in launching digital assets and distributed ledger technology (DLT)-based products and services across multiple booking centers.
Taurus will provide Deutsche Bank with its custody and tokenization technology, allowing the bank to manage cryptocurrencies, tokenized assets, and digital currencies. This move comes as Deutsche Bank plans to launch a new digital custody platform for institutional clients. The platform will offer regulated banking services, compliance, settlement, and a user-friendly experience.
Paul Maley, Deutsche Bank’s Global Head of Securities Services, believes that crypto will continue to grow and custodians must adapt to support their clients. Deutsche Bank also participated in Taurus’ $65 million Series B financing round earlier this year.
Hot Take: Crypto Custody Becoming Mainstream
Deutsche Bank’s partnership with Taurus signifies the increasing acceptance and adoption of cryptocurrencies by traditional financial institutions. As more banks recognize the potential of digital assets, they are seeking reliable custody solutions to meet the demands of their clients. By leveraging Taurus’ technology, Deutsche Bank aims to provide a secure and efficient platform for institutional investors to manage their crypto holdings. This collaboration highlights the growing importance of custodians in the crypto industry and paves the way for further integration of digital assets into traditional financial systems.
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