Deutsche Bank Wants to Enter Cryptocurrency Market: Applies for Digital Asset Custody License
Portfolio Pulse from Vandana Singh
Deutsche Bank has submitted a regulatory application to operate a digital asset custody service, including cryptocurrencies. The move aims to enhance fee income within the bank's corporate division and aligns with similar endeavors by its investment arm, DWS Group.

June 20, 2023 | 12:31 pm
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Deutsche Bank has applied for a digital asset custody license, potentially enhancing fee income within its corporate division and aligning with DWS Group's endeavors.
Deutsche Bank's application for a digital asset custody license indicates its intention to enter the growing cryptocurrency market. This move could enhance fee income within its corporate division and align with similar endeavors by its investment arm, DWS Group. As a result, this news is likely to have a positive short-term impact on Deutsche Bank's stock price.
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