As more and more institutions come on board the Bitcoin and cryptocurrency move, Deutsche bank has now joined the party, offering high end services to some hedge funds that are invested in crypto currencies.
The Deutsche bank plans to develop a “fully integrated custody platform for institutional clients and their digital assets providing seamless connectivity to the broader cryptocurrency ecosystem.”
Germanys largest banks says it aims to develop a trading and token issuance platform that will bridge digital crypto assets with the traditional banking services currently being offered. The platform will make it easy to manage various digital assets and fiat holding by hedge funds and investors alike.
The Bank of New York Mellon which is the world’s largest custodian bank also joined the party earlier this week. This happens as more banks announce their participation
The Deutsche bank which is the 21st largest bank in the world has mentioned that it plans to “ensure the safety and accessibility of assets for clients by offering an institutional-grade hot/cold storage solution with insurance-grade protection.” – All while not mentioning any specific token names or crypto currency assets.
The current plans are to launch this platform in stages. Eventually providing their clients with the purchasing and selling of their digital assets via a collaboration with prime brokers.
The bank has further stated that it would also like to provide “value-added services such as taxation, valuation services and fund administration, lending, staking and voting, and provide an open-banking platform to allow onboarding of third-party providers.”
These service would primarily be aimed at large investors, wealth managers, corporate businesses and also digital funds.
Deutsche Bank have mentioned that they have completed a proof of concept and aims for a a viable product this year. All while exploring their clients interest and needs.
Plans for hot and cold storage of digital assets are also in the works. Adding to their secure bridge of connections and utilities planned for later this year.