Deutsche Financial institution reportedly applies for digital asset custody license from BaFin

Germany’s largest banking establishment, Deutsche Financial institution (ETR:), has reportedly utilized for a digital asset custody license to the nation’s monetary regulator, the Federal Monetary Supervisory Authority, or BaFin, in a bid to develop its income streams, Bloomberg reported.

This comes after an analogous shift from the financial institution’s funding arm, DWS Group, and goals to develop on digital asset custody companies, together with cryptocurrencies. DWS Group had beforehand indicated an curiosity in investing in two German crypto companies. Firms negotiating with DWS Group included Deutsche Digital Belongings, a crypto exchange-traded merchandise supplier, and market maker Tradias.

Proceed Studying on Coin Telegraph