Deutsche Bank Expects October MiCA License for Crypto Custody — SkimNews
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- Deutsche Bank plans to go live with institutional crypto custody for its first clients this year, pending regulatory approval, the bank announced Wednesday.
- Deutsche Bank expects to receive its custody license in October under the EU's Markets in Crypto Assets (MiCA) framework, per spokesperson Heinrich Frömsdorf.
- Initial support will cover Bitcoin (BTC), Ether (ETH) and stablecoins including Circle USDC, EURC and AllUnity EUR, with tokenized financial instruments planned for a later phase.
- Deutsche Bank first revealed its custody plans in 2023 as part of a partnership with Taurus, shortly after applying for a digital asset custody license in Germany.
- Head of digital assets Sabih Behzad said in June the bank was considering entering the stablecoin market, including potentially issuing its own token.
- Deutsche Bank is listed by the Financial Stability Board as a Global Systemically Important Bank, underscoring the institutional weight behind the move.
Why it matters: Deutsche Bank's entry makes regulated institutional crypto access in Europe available through one of Germany's largest banks rather than only crypto-native firms. The October MiCA timeline matters because MiCA reached full enforcement on July 1, and Deutsche Bank's planned coverage of USDC, EURC and AllUnity EUR signals it intends custody to function as a gateway into euro- and dollar-denominated stablecoin settlement for corporates.
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