Deutsche Bank has just filed an application with BaFin for a license as a provider of custody services for digital assets.
As reported by Bloomberg, David Lynne, the company's head of corporate banking, has said the move is part of a broader strategy to increase fee and commission income from corporate clients.
He has added:
"We are building out our digital assets and custody business."
The move also reflects DWS Group's investment division's interest in cryptocurrencies and the potential benefits associated with them, Lynn has said.
Deutsche Bank announced back in 2020 that it intended to launch a digital asset custody service aimed at large investors.
According to company representatives, the main goal is to "ensure security and accessibility for clients by offering an institutional-grade solution."