Deutsche Bank Aims to Expand Crypto Custody to Asia in 2027 as German Launch Nears
Key Takeaways
- •Deutsche Bank intends to bring its cryptocurrency custody service to Asian markets in 2027, following a domestic German launch expected within weeks.
- •The bank also plans to provide stablecoin conversion, tokenized deposits, and services enabling clients to issue digital bonds and other blockchain-based securities.
- •Its initial custody offering will support bitcoin, ether, and stablecoins such as Circle's USDC and EURC, as well as EURAU from AllUnity, a venture of DWS and Galaxy Digital.
- •BaFin granted the bank authorization under the EU's MiCA framework on October 12, although the German rollout still awaits final regulatory approval.
- •The Asia expansion supports Deutsche Bank's broader target of roughly 8% compound annual revenue growth in its corporate bank between 2025 and 2028.
Deutsche Bank (DB) is preparing to extend its cryptocurrency custody service to Asia in 2027, according to Reuters, which cited the firm's co-head. The plan comes as the bank readies the domestic launch of the service in Germany within weeks.
Alongside custody, the German banking giant also intends to offer stablecoin conversion, tokenized deposits and services designed to help clients issue digital bonds and other blockchain-based securities.
The move could give institutional clients in Asia access to crypto services through an established global bank, without requiring them to manage their own crypto wallets or private keys. It remains unclear which Asian financial services the bank will target first. Unlike the EU, Asia has no single regional rulebook for digital assets: markets such as Hong Kong, Singapore and Japan each maintain their own licensing regimes for crypto services.
Under the planned custody model, corporate and institutional clients will be able to hold and transfer cryptocurrencies, while Deutsche Bank handles the technology needed to keep the assets secure. In September, the bank said its initial offering would support bitcoin, ether and stablecoins including USDC and EURC, both issued by Circle, and EURAU, which is issued by AllUnity, a Frankfurt-based venture founded by DWS, Deutsche Bank's asset-management arm, together with Galaxy Digital.
The German launch remains subject to regulatory approval. According to the European Securities and Markets Authority's interim register, the bank received authorization from BaFin, Germany's financial regulator, under the European Union's Markets in Crypto-Assets (MiCA) rules on October 12. MiCA, the bloc's first comprehensive rulebook for crypto-asset service providers, allows firms authorized in one member state to offer those services across all 27 EU countries.
Podobnik, the co-head cited by Reuters, said the expansion forms part of Deutsche Bank's broader plan to achieve roughly 8% compound annual revenue growth in its corporate bank between 2025 and 2028.
The Asia rollout would take the custody service beyond Europe as banks seek a larger role in managing digital assets for institutional clients. Deutsche Bank has worked with Bitpanda and Taurus on its custody plans and joins rivals such as Standard Chartered and BBVA in offering crypto custody. The near-term markers to watch are when the German service goes live, and which Asian market the bank enters first.
