Frankfurt-headquartered Deutsche Bank has applied for a digital asset license from Germany’s financial market regulator, BaFIN, according to a Bloomberg report today (Tuesday). If approved, the license will allow the banking giant to offer custody services for digital assets, including cryptocurrencies .
“We’re building out our digital assets and custody business,” Deutsche Bank’s Head of Commercial Banking Unit, David Lynne, said in a conference, confirming that “we just put our application into the Bafin for the digital asset license.”
The corporate division of Deutsche Bank has been hinting its plans to enter the crypto industry since 2020, but it never came up with a timeline. Interestingly, a report published by a German bank in early 2020 criticized Bitcoin
