Deutsche Bank will Store Cryptocurrencies

Deutsche Bank is a large German conglomerate. He sent an application to BaFin (Federal Financial Supervision Authority) to obtain a license to provide services for the storage of crypto assets.

What statements did you make in the structure?

David Lynn, head of the commercial department, made a statement indicating that this stage is part of an expanded strategy to increase commission profits from large investors.

He also added that the company continues to develop activities related to crypto assets and custodial business.

According to the specialist, this decision shows the interest of the DWS Group investment department in crypto assets and possible profits from them. 

Recall that in 2020, representatives of the bank announced that they plan to launch their own cryptocurrency storage service. At the same time, it will focus on large customers. They have set themselves the task of ensuring security and accessibility for users. The solution is provided at the institutional level. 

In 2021, experts concluded that Bitcoin could become gold in the digital world of this century. At the same time, even strong volatility will not play a role.

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