Tag: Bank

$1,400,000,000,000 Deutsche Bank Applies for Cryptocurrency Custody License in Germany: Report

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A multinational investment bank and financial services company valued at $1.4 trillion is applying for a crypto custody license in Germany. According to a new Bloomberg report, Deutsche Bank AG, Germany’s largest and the European Union’s second-largest bank, is seeking regulatory approval to offer a custody service for digital assets, including cryptocurrencies, in Germany. Says David Lynne, runner of Deutsche Bank AG’s commercial unit, “We’re building out our digital assets and custody business. We just put our application into the BaFin for the digital asset license.” BaFin, the Bundesanstalt für…

Deutsche Bank crypto plans aid Bitcoin price trip to $27.5K June highs

Bitcoin (BTC) achieved new highs for the month after the June 20 Wall Street open as observers stayed cautious on market strength. BTC/USD 1-day chart. Source: TradingView “No meaningful trend shift” for Bitcoin yet Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $27,499 on Bitstamp. The pair saw its highest levels since May 31 as the return of United States market trading boosted its performance. Versus the prior day’s lows, gains totaled around 4.2%. Despite this, wary market participants stopped short of calling even a low-timeframe trend shift.…

Deutsche Bank awaits regulatory approval to offer digital asset custody services

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied According to a BNN Bloomberg report, Deutsche Bank — a leading global financial institution — has recently submitted an application to the German securities regulator, Bafin, seeking approval to provide custody services for digital assets, including cryptocurrencies. The move is part of the bank’s broader strategy to diversify its revenue streams and enhance its corporate banking unit’s fee income. David Lynne, the head of Deutsche Bank’s commercial banking unit, confirmed the application during a recent conference.…

Deutsche Bank Seek BaFin License to Provide Crypto Custody Services

Deutsche Bank’s application for regulatory approval is a positive step toward the development of a regulatory framework for digital asset custody services in Germany. Deutsche Bank AG (ETR: DBK), one of the leading financial institutions in the world, is seeking regulatory approval from Germany’s financial market regulator, BaFin, to operate a custody service for crypto assets, including cryptocurrencies. Interestingly, this move is a significant step towards the banks’ entry into the digital asset space, which has been gaining traction in recent years. According to a Bloomberg report, David Lynne, head…

European Investment Bank taps blockchain for Climate Awareness Bond

The European Investment Bank (EIB) has issued a blockchain-based digitial bond powered by environmentally-incentivized node infrastructure. An announcement from the financial institution outlined the key points of a ‘digital native green bond’ denominated in Swedish krona. The 1 billion kr bond is set to offer a 3.638% fixed rate over two years to institutional investors. The Climate Awareness Bond is also being touted as the first blockchain-based bond to be registered on the Luxembourg Stock Exchange Securities Official List and displayed on the Luxembourg Green Exchange. The bond will operate…

Deutsche Bank reportedly applies for digital asset custody license from BaFin

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Germany’s largest banking institution, Deutsche Bank, has reportedly applied for a digital asset custody license to the country’s financial regulator, the Federal Financial Supervisory Authority, or BaFin, in a bid to expand its revenue streams, Bloomberg reported. This comes after a similar shift from the bank’s investment arm, DWS Group, and aims to expand on digital asset custody services, including cryptocurrencies. DWS Group had previously indicated an interest in investing in two German crypto firms. Companies negotiating with DWS Group included Deutsche Digital Assets, a crypto exchange-traded products provider, and market maker…

Bank of England’s Project Rosalind results out, digital pound plans in progress

The Bank of England (BOE) has made progress towards launching its digital currency after conducting a year-long investigation that highlighted the numerous opportunities presented by digital currency technology. BoE, digital pound, and Project Rosalind In collaboration with the Bank for International Settlements (BIS), the BoE initiated Project Rosalind to explore the potential advantages and feasibility of a central bank digital currency (CBDC).  On June 16, the BIS unveiled the first part of the trial’s findings, indicating that a CBDC could facilitate faster individual payments, enable businesses to develop innovative financial…

Bank of England (BoE) Concludes CBDC Test Project towards Potential Official Launch

Following a successful Project Rosalind CBDC test, the BoE is making progress with developing and launching a digital pound. The Bank of England (BoE) is moving closer to launching its Central Bank Digital Currency (CBDC) after its long test project on the potential benefits of the technology. The BoE launched Project Rosalind last year to help decide whether to float a CBDC. The BoE undertook the CBDC project in collaboration with the Bank of International Settlements (BIS) to practicalize CBDC usage. According to a report the BIS published on Friday,…