Deutsche Bank Provides Crypto Services After Partnering With Taurus

Deutsche Bank will provide crypto services. (Photo; Doc. FNLondon)

Taurus, a Swiss fintech that provides company-level crypto services, has announced its partnership with Deutsche Bank to build digital asset storage services.

In addition to storing crypto assets, Deutsche Bank will also take advantage of the Taurus infrastructure to offer tokenization services to customers.

Paul Maley, Head of Global Securities Deutsche Bank, stated that they see the economic development of tokenization and hope traditional assets will become "on-chain" in the future.

Lamine Bhanimi, Managing Partner and co-founder of Taurus, stated that this shows the institution's growing interest, and the presence of Deutsche Bank in this space will help in building trust in the crypto market.

"We look forward to supporting the bank in launching digital assets," said Lamine Brahmi.

Deutsche Bank is the largest bank in Germany with managed funds of US$1.3 trillion or equivalent to Rp19.9 quadrillion. The bank has applied for permission from the government for digital storage in Germany.

Deutsche Bank has been working on a crypto asset storage platform since 2020. This partnership marks a strong collaboration between Taurus and Deutsche Bank in the face of increasingly dynamic digital economic changes.