Deutsche Bank is a multinational bank that operates in several regions of the world, but its head office is in the German city of Frankfurt.

Deutsche Bank is quietly planning to enter the crypto market as the bank’s game plan is hidden in plain sight.

Deutsche Bank has joined the growing ranks of large financial institutions exploring the era of cryptocurrencies, with aspirations to provide superior service to hedge funds investing in the cryptocurrency category.

Deutsche Bank’s prototype aims to develop an integrated custodial and storage platform for institutional clients and their cryptocurrency.

In the Deutsche Bank report and exactly in a paragraph on page 23 of the December 2020 report, Germany’s largest bank says it plans to create a digital trading and issuance platform, link digital assets with traditional banking services, and manage the pool of digital currencies and fiat holdings in one easy-to-use platform.

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The major banks are now announcing plans to enter the cryptocurrency market on an almost daily basis.

Where we mentioned earlier in the Arab Bitcoin about the joining of “New York Mellon Bank”, the largest custody bank in the world, to the current of the upcoming institutions supporting digital currencies.

US banks got some regulatory clarity thanks to letters of explanation last year from the Office of the Comptroller of the Currency.

In Germany, companies are lining up to obtain licenses to hold cryptocurrency from the state regulator, BaFIN.

Deutsche Bank, which ranks 21st largest in the world, said it aims to ensure asset safety and accessibility to customers by offering an enterprise-grade hot/cold storage solution with insurance-grade protection.

No cryptocurrency was mentioned in the report and the statements made by the bank.

The digital asset custody platform will be launched in phases.

The bank will eventually provide customers with the ability to buy and sell cryptocurrencies via a partnership with major brokers (who act somewhat like a hedge fund janitor), issuers and vetted exchanges.

The bank says it will also offer value-added services such as taxation, appraisal services, fund management, lending, risk-taking and voting, and provide an open banking platform to allow access to third-party providers.

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The bank said the service targets asset managers, wealth managers, family offices, companies and digital funds.

Regarding the for-profit model, he told the bank that it would start charging custody fees, and later charge fees for storing and trading cryptocurrencies.

Tell Deutsche Bank also said it has completed a proof-of-concept process and is currently aiming for a minimum viable product in 2021, while exploring global customer interest in a pilot initiative.

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