Deutsche Bank will launch a bitcoin custody service for institutional clients within weeks, according to a Friday Reuters report that cited the German lender's corporate banking chief.

The Frankfurt-based bank — Germany's largest by assets at roughly €732 billion — will first support custody for major cryptocurrencies including BTC before extending into stablecoin services, Reuters reported. The rollout will eventually reach the bank's roughly 28 million clients across retail, corporate and institutional divisions.

What's the rollout plan?

The custody platform targets European corporate and institutional clients in its initial phase. Deutsche Bank announced the initiative on September 16, tying the launch to completion of "the applicable regulatory timeline," per a company press release.

The bank plans to push the platform into Asia in 2027, Reuters reported, citing Gerald Podobnik, co-head of corporate banking. That expansion puts Deutsche Bank in direct competition with Standard Chartered, which has announced its own bitcoin custody plans this year.

Who else is in the race?

Major global banks have moved into crypto custody in waves over the past 18 months. BNY Mellon became the first major U.S. bank to offer digital asset custody in 2022. State Street, Standard Chartered, U.S. Bank and Citigroup have all committed to direct crypto custody over that span.

Citi and Standard Chartered have both debuted or announced bitcoin custody plans this year across multiple jurisdictions. What started as a U.S. bank-first market in 2022 now spans European and Asian incumbents chasing the same institutional mandates.

What did Deutsche Bank's leadership say?

Podobnik told Reuters the financial system will need to "offer tokenized or blockchain solutions." He framed custody as the entry point for banks building broader digital asset capabilities, including stablecoin issuance and tokenization rails.

The pivot mirrors an industry-wide bet that stablecoins and tokenized assets will become core banking infrastructure rather than a niche product line. Tokenization has drawn particular attention as firms chase faster settlement and collateral mobility.

How big is the underlying client pool?

Deutsche Bank serves roughly 28 million clients globally, according to a Bitcoin Magazine report citing the bank's corporate communications. That base gives the custody launch an unusually wide distribution channel for an institutional product.

The corporate banking division, which Podobnik co-leads, anchors the institutional client base. BNY Mellon took a similar institutional-first approach when it entered U.S. bank crypto custody in 2022.

What regulatory steps remain?

Deutsche Bank's September press release tied the launch to completion of "the applicable regulatory timeline," signaling that German and EU-level clearances were still pending at announcement. The bank has not confirmed which approvals have cleared since.

The service will initially hold bitcoin and other major cryptocurrencies, before layering stablecoin services that help clients move funds into and out of stablecoins.

What comes next?

Deutsche Bank's custody product will likely surface in upcoming disclosures if the "weeks" timeline Reuters reported holds. The Asia expansion is slated for 2027, giving the bank roughly twelve months to localize the platform across regional markets.

Watch for a formal launch announcement before year-end and any cross-border custody partnerships that surface alongside the Asia push.