Image: ShutterstockDeutsche Bank, Germany's largest financial institution, has partnered with Taurus, a Swiss startup specialising in crypto security and tokenisation. The decision to join forces with Taurus follows Deutsche Bank's pursuit of a crypto custody license from the Federal Financial Supervisory Authority (BaFin), the German financial regulatory authority.Taurus specialises in providing enterprise-grade infrastructure for crypto issuance, custody management, and trading, covering cryptos, tokenised assets and nonfungible tokens (NFTs). Deutsche Bank has been closely monitoring the crypto landscape for several years, expressing its intentions to offer its customers crypto custody and trading services. While the collaboration revolves around cryptos, Paul Maley, Deutsche Bank's global head of securities services, confirmed their intention to extend their offerings to tokenised financial assets. Initially, the bank plans to provide custody services for selected cryptos and stablecoins, foreseeing substantial activity in these segments, said Maley.

Source: Forbes September 16, 2023 15:53 UTC