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According to PANews news on June 20, according to Bloomberg News, Deutsche Bank has applied to the German securities regulator Bafin for a regulatory license to provide custody services for digital assets such as cryptocurrencies. The move is part of Deutsche Bank's strategy to increase fee income from its corporate banking, David Lynne, head of the bank's commercial banking division, told a conference on Tuesday. It also reflects efforts by DWS Group, the investment arm of Deutsche Bank, to expand revenue from digital asset-related products.


Deutsche Bank's corporate banking unit has hinted at plans to introduce digital asset custody by the end of 2020, but has never specified when it plans to start the service.
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