Bitcoin Magazine Deutsche Bank Switches On Bitcoin Custody for Paying Clients
Deutsche Bank has switched on its digital asset custody service for paying clients, the German lender said Wednesday, letting institutions and corporations in Europe hold bitcoin with the country’s largest bank less than two months after it first unveiled the plan.
The bank announced the service on Sept. 16, saying it would go live with first clients this year once regulators signed off. It now supports bitcoin and ether, along with the USDC, EURC and EURAU stablecoins, according to its product page .
Under the setup, Deutsche Bank manages the wallets and private keys on behalf of clients, who can store the assets and transfer them to third parties. The bank pitched that as a way for clients to skip building and maintaining their own custody infrastructure.
Source: Bitcoin Magazine
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