Deutsche Bank applies for regulatory approval to provide cryptocurrency custody services

ChainCatcher news, according to Bloomberg, Deutsche Bank AG has applied for regulatory approval to provide custody services for digital assets such as cryptocurrencies.

David Lynne, head of the bank's commercial banking division, stated that this move is part of a broader strategy for Deutsche Bank to increase fee income from its corporate banking business. It also reflects the efforts of DWS Group, Deutsche Bank's investment division, to expand revenue from digital asset-related products. (Source link)