On Tuesday, financial giant Deutsche Bank announced a partnership with crypto custodian company Taurus to provide tailored tokenization and digital custody services for institutional investors.
This collaboration aligns with the company’s ongoing efforts to launch innovative products and services related to digital assets in response to the increasing interest in the cryptocurrency industry.
According to Deutsche Bank and Taurus SA, Deutsche Bank has signed a strategic agreement with Taurus SA to expand cryptocurrency opportunities for its clients.
The move is primarily aimed at strengthening the company’s digital asset solutions. Through this partnership, Deutsche Bank aims to expand its services in the cryptocurrency asset field and provide cutting-edge solutions to meet the growing customer demand. The agreement will introduce tokenization and custody services for digital assets into the company’s existing digital asset accounting and fund management service suite.
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Donna Milrod, Head of Digital Asset Solutions at Deutsche Bank, emphasized the importance of the partnership and said:
“The collaboration with Taurus highlights our ongoing commitment to becoming a leader in this rapidly growing asset class. This announcement further reinforces our commitment to providing an exceptional digital asset experience for our clients.”
Deutsche Bank plans to use Taurus’ product suite, including Taurus-PROTECT and Taurus-CAPITAL, to create and manage tokenized assets and use Taurus-EXPLORER to facilitate connectivity across multiple blockchain protocols. However, the launch of digital custody services is pending regulatory approval from US authorities.
Recently, Deutsche Bank revealed its plans to explore the possibility of launching its own stablecoin and token custody to enhance blockchain-based transactions. The company continues to expand its crypto-related products and integrate digital assets into its broader business.
As the third-largest ETF management company, Deutsche Bank now offers fund management and accounting services for crypto ETFs. The company recently partnered with Galaxy Asset Management to launch an actively managed cryptocurrency ETF, further solidifying its position in the rapidly evolving industry.
