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Every day the demand for Bitcoin and cryptocurrencies is increasingly becoming an option. Since Tesla's massive investment in Bitcoin, the cryptocurrency has ranked the 9th most valuable assets in the world, surpassing Facebook and Tesla companies.
Tesla's bold actions have inspired many companies and even banks. In one of its reports, Deutsche Bank plans to offer crypto-related services from the issue of issuance and management of investment funds.
The bank expressed its intention to offer crypto services to institutions in a report published by the World Economic Forum in December 2020. Deutsche Bank is the 21st largest bank in the world and the sixth largest in Europe with $ 1.5 trillion in assets.
In the report, it is stated that to become a digital asset protection platform there will be 4 phases. The first phase will focus on offering cryptocurrency storage services to institutional investors. The second phase is to buy and sell cryptocurrencies through exchange platforms and brokers. The following phases are on accounting services involving taxes and finally on cryptocurrency issuing advisory services.
Deutsche Bank will assist consumers in making their investments. The platform is expected to focus on simplifying the customer experience. The bank is also targeting the issuance of its own cryptocurrency by 2021.
Finally, Deutsche Bank emphasizes that it will work with major brokers, crypto issuers and exchange platforms to offer trading services to institutional clients. The bank also plans to introduce value-added services such as taxation, valuation services, and fund administration, lending and open banking platforms.
