- Deutsche Bank partners with Taurus to offer institutional custody.
- The crypto market is expected to expand significantly.
- Signs of growing institutionalization of the digital asset sector.
German investment bank Deutsche Bank, in collaboration with Swiss fintech firm Taurus, is set to offer institutional clients crypto custody services.
Founded in 2018, Taurus set out to build institutional-grade crypto infrastructure that meets the high security and compliance standards demanded by institutional players. Having achieved that, the company has now set its sights on pushing the technology’s impact on the global economy.
Tapping Deutsche Bank Clients
The global partnership agreement will see Deutsche Bank integrate Taurus’ protocols as part of the collaboration. This will enable the bank to offer crypto custody and tokenization services to its institutional clients.
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Drawing attention to expectations that the cryptocurrency market will balloon into a multi-trillion dollar industry, Paul Maley, Global Head of Securities Services at Deutsche Bank, noted that digital assets are now becoming a top priority for investors and companies to focus on.
“This is why we are excited to partner with Taurus, a leading digital asset infrastructure provider with a proven track record and extensive expertise in the crypto and tokenization space,” said Maley.
Taurus did not disclose when the Deutsche Bank integration will go live.
Are Institutions Finally Coming?
The crypto industry has long tried to attract major institutions in hopes of tapping into their deep resources and extensive client networks. However, regulatory uncertainty and other factors have limited significant institutional involvement in cryptocurrencies until recently.
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This summer marked a turning point as BlackRock filed for a spot Bitcoin ETF, kicking off a flood of other applications from VanEck, Fidelity, and Invesco, to name a few. Along with Deutsche Bank now joining Standard Chartered, BNY Mellon, and Societe General in offering crypto custody services, it seems the institutionalization of crypto is picking up pace.
Learn more about Deutsche Bank’s bid to secure a digital asset license here:
Citadel, Fidelity’s Exchange EDX Joins Deutsche Bank in Crypto Push
Read about Sony’s plans to become the backbone of web3 here:
Sony to Unleash Killer Web3 Uses in New Blockchain Venture
