U.Today - Deutsche Bank (ETR:DBKGn) a partnership with Swiss cryptocurrency firm Taurus to offer custody services for institutional clients.
The move marks the bank's entry into holding cryptocurrencies and tokenized assets for its clients.
According to a spokesperson for Deutsche Bank, the financial institution has no "immediate plans" for crypto trading, despite suggesting an interest in the activity in a 2020 World Economic Forum paper.
The announcement comes at a time when mainstream finance is increasingly exploring blockchain technology, even as the crypto market navigates regulatory uncertainties and remains volatile.
Deutsche Bank's U-turn
BitcoinDespite past reservations, Paul Maley, Deutsche Bank's global head of securities services, now states that the trillion-dollar digital space has emerged as "one of the priorities" for investors and corporations alike.
Earlier involvement
Past reports from the bank have covered a variety of crypto topics, from the potential for going mainstream to survey data showing that most investors would continue to hold cryptocurrencies even if the market crashed.