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Deutsche Bank Applies for Digital Asset License Amid Growth Push
Deutsche Bank AG has applied for regulatory permission to operate a custody service for digital assets such as crypto currencies. “We’re building out our digital assets and custody business,” David Lynne, who runs the lender’s commercial banking unit, said at a conference Tuesday. “We just put our application into the Bafin for the digital asset license,” he said, referring to Germany’s securities watchdog. The move is part of a wider strategy to increase fee income at Deutsche Bank’s corporate bank, Lynne said. It also mirrors efforts at Deutsche Bank’s investment arm DWS Group to expand income ... (full story)