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Deutsche Bank, one of the largest asset managers in the world, announced a partnership with Swiss crypto firm Taurus to offer custody services for institutional clients' cryptocurrencies and tokenized assets. This partnership marks a significant step for Deutsche Bank, as it allows the bank to provide a safe and secure way for its institutional clients to hold their digital assets. Taurus is a regulated crypto custodian that offers a variety of features, including multi-signature wallets, cold storage, and insurance. Deutsche Bank has not yet disclosed which cryptocurrencies it will offer custody for, but it is likely to include Bitcoin, Ethereum, and other major digital assets. The bank has also not yet announced when its crypto custody services will be available to clients.
However, the partnership with Taurus suggests that Deutsche Bank is serious about entering the crypto custody market. This is a positive development for the industry, as it shows that traditional financial institutions are becoming more comfortable with digital assets. The partnership with Taurus is also likely to attract new institutional investors to the crypto market. With Deutsche Bank's backing, Taurus will be able to offer its services to a wider range of clients. This could help to boost the adoption of digital assets among institutional investors.
Overall, the partnership between Deutsche Bank and Taurus is a significant development for the crypto custody market. It is a sign that traditional financial institutions are becoming more comfortable with digital assets, and it is likely to attract new institutional investors to the market.
