2 hours ago
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Key Takeaways
- Initial support covers five named digital assets.
- The service targets institutions, not retail customers.
- Custody includes transfers but not announced trading.
- Crypto lacks normal deposit-guarantee protection.
The bank will operate the wallets for its clients
Crypto custody is the safekeeping and management of the private keys that control blockchain assets. A company may be able to see its Bitcoin balance onchain, but it cannot move that Bitcoin without access to the corresponding keys.
Under the service announced by Deutsche Bank, the bank will manage wallets and private keys on behalf of its clients. Those clients will be able to hold supported assets and instruct the bank to transfer them to third parties.
Companies using the service would not need to develop their own custody system, protect recovery material or create...
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