Deutsche Bank (DB) is planning to debut a crypto custody service next year, Bloomberg reported on Tuesday.
Germany’s largest bank has enlisted cryptocurrency exchange Bitpanda to help build the offering, according to the report, citing people familiar with the matter.
Deutsche’s prior involvement in crypto custody has largely been through Swiss custodian Taurus, of which the German bank is both an investor and a client. It is not clear how this relationship would develop should Deutsche begin offering its own service in-house.
The bank’s other recent crypto initiatives have been concentrated in the stablecoin sector, with its asset management subsidiary DWS planning to issue a euro stablecoin as part of a joint venture with Flow Traders and Galaxy (GLXY).
Deutsche did not immediately respond to a request for comment, while Bitpanda declined to comment when contacted by CoinDesk.
Read more: Deutsche Bank’s DWS, Galaxy, Flow Traders Venture to Introduce German-Regulated Stablecoin