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