Deutsche Bank plans Germany custody launch, Asia expansion in 2027

Deutsche Bank is weeks away from launching a digital asset custody service in Germany and plans to expand it to Asian financial centres in 2027, Corporate Bank co-head Gerald Podobnik told Reuters. The move takes the bank from preparation to an imminent service launch, with a regional expansion plan attached, but the first phase is limited to custody and a small set of assets.

The timing builds on the bank’s September announcement that it intended to go live with its first clients this year, subject to the applicable regulatory process. Its September release described an initial European service for corporate and institutional clients. The newer Reuters report adds a more specific sequence: Germany first, Asian financial centres next year.

What will the first version of the service do?

Deutsche Bank will initially hold bitcoin and ether for clients, according to Podobnik’s Reuters interview. The bank’s release also lists selected stablecoins or e-money tokens, including USDC, EURC and EURAU. Clients will be able to safeguard assets and transfer them to third parties; the bank will manage their wallets and private keys on their behalf.

That model shifts key management and custody infrastructure to a regulated bank, reducing the need for clients to build and operate those systems themselves. It does not remove the underlying asset risks. Deutsche Bank says crypto-assets are not covered by a deposit-guarantee scheme comparable to eligible bank deposits, and that custody does not protect clients from price changes, fraud or failures by other market participants.

How does the plan compare with the bank’s earlier timetable?

In September, Deutsche Bank said first clients could come on board this year, but made that timing conditional on regulatory progress. Podobnik’s description of a launch “weeks away” narrows the expected window without removing that caveat. The bank’s current custody site says the service will become available after regulatory and technical readiness, and lists Germany as the initial market, with cross-border service across Europe subject to applicable rules.

The proposed sequence is narrower than an immediate global rollout: establish custody in Germany, then extend the platform into Asian financial centres in 2027. Reuters did not identify which centres the bank is considering or provide a launch date for the Asian expansion. Deutsche Bank’s own announcement says the service is initially aimed at eligible corporate and institutional clients, including asset managers, hedge funds, custodians, brokers and sovereign institutions, rather than retail customers.

What comes after custody?

Podobnik told Reuters that the phased rollout could add services to help clients move money into and out of mainstream stablecoins. He also said Deutsche Bank plans to offer tokenised deposits and help clients issue blockchain-based securities such as digital bonds. Those ambitions extend beyond holding crypto: custody is the first service, while tokenised payments and securities would connect the bank’s existing client activity to blockchain-based instruments.

Podobnik framed the strategy as an addition to traditional financial services, not a replacement for them. He linked the move to Deutsche Bank’s target of 8% compound annual growth in corporate banking by 2028 and pointed to hundreds of billions of dollars held in stablecoins as evidence of new pools of value. The next signs to watch are whether the German launch clears its remaining regulatory and technical steps, which assets are available at launch, and whether the bank names specific Asian markets or sets dates for the planned expansion.

Source material

• Reuters — live.euronext.com
• September release — db.com