Deutsche Bank And Crypto Infrastructure Firm Team Up: Crypto Custody and Tokenization Services

The crypto space is booming with great news these days. Check out the latest reports about an important bank that decided to team up with a crypto infrastructure firm to boost the whole crypto world.

Recently, there has been a global partnership established between Deutsche Bank, a major German banking firm, and Taurus, a Swiss company specializing in digital asset infrastructure.

The collaboration is expected to promote further growth in the use of cryptocurrencies. Taurus has expressed that the partnership will allow Deutsche Bank to utilize its technology for managing digital currencies, tokenized assets, and cryptocurrencies.

Co-founder of Taurus, Lamine Brahimi, has expressed his pleasure in implementing this partnership with Deutsche Bank and is looking forward to supporting the bank in launching digital assets and DLT-based products and services across various booking centers.

According to a World Economic Forum report in 2020, Deutsche Bank had already planned to launch a digital custody platform for institutional clients three years prior.

The platform will offer various regulated banking services, including KYC/AML, compliance, and settlement, while prioritizing intuitive UX and CX for a seamless investment journey.

The goal of Deutsche Bank is to simplify the customer experience and design implementation to create a unique product that emphasizes the significance of investment decisions.

Deutsche Bank’s global head of Securities Services Paul Maley says crypto will continue to expand:

“As the digital asset space is expected to encompass trillions of dollars of assets, it’s bound to be seen as one of the priorities for investors and corporations alike. As such, custodians must start adapting to support their clients.”

It is important to note the fact that the bank is among the investors that participated in Taurus’ $65 million Series B financing round earlier this year.

The startup says the raised funds will be used to support its growth strategy. Stay tuned for more juicy reports about the crypto space.