Deutsche Bank Applies to German Regulator for Crypto Custody License

One of Germany’s largest banks, Deutsche Bank, with headquarters in Frankfurt, has submitted a license application to the country’s regulatory authority, Bafin, to provide custody services for digital assets, including cryptocurrencies. “We Have Applied to Bafin” David Lynne, who heads Deutsche Bank’s corporate banking division, stated during a conference held today, “We are developing our digital asset and custody business.” Referencing Germany’s securities regulatory and supervisory authority, he added, “We have just applied to Bafin for a digital asset custody license.” Lynne also mentioned that this move is part of a broader strategy to increase fee revenues within Deutsche Bank’s corporate segment. Deutsche Bank’s corporate banking unit first announced its plans to offer digital asset custody services specifically for cryptocurrencies at the end of 2020. However, no specific date for the launch of these services was given at the time. The unit was then under the leadership of Stefan Hoops, […] The post Deutsche Bank Applies to German Regulator for Crypto Custody License appeared first on COINTURK NEWS.