Deutsche Bank, a financial giant with over $820 billion in assets under management, is diving into the pioneering world of cryptocurrencies. In an unprecedented alliance with the Swiss crypto platform Taurus, not only will the institutional clientele be addressed, but a new chapter in digital asset management will also be opened. But that’s not all. As the bank strategically secures its place in the crypto ecosystem, there is a dramatic twist that could potentially send shockwaves through the crypto investment world. A former Deutsche Bank investment banker is about to plead guilty. Are the plans now falling through or is it just the beginning? Read on now!
Deutsche Bank enters the crypto arena – a milestone for the mainstream?
Deutsche Bank, one of Germany’s largest financial institutions with over $820 billion in assets under management, has ventured into the world of cryptocurrencies and tokenized assets.
She had in In June, a license application for the custody of cryptocurrencies was submitted to the Federal Financial Supervisory Authority (BaFin).. This crucial move, made public by David Lynne, Head of Commercial Banking, aims to expand the bank’s digital assets offering. The application indicates that Cryptocurrencies are no longer just recognized as objects of speculation, but as a serious investment class.
The bank’s main focus is on institutional clientele, i.e. other financial companies. The possibility of cryptocurrency trading for private customers or even the To enable you to set up your own crypto exchange, is not currently under discussion. Deutsche Bank was already over 2020 first plans for the cryptocurrency sector forged as crypto prices reached record-breaking highs.
Unlike US institutions, Deutsche Bank is in good company, as there are already licensed players like in Germany Bitpanda, Coinbase and Hauck Aufhäuser Digital Custody. Actually it takes time Licensing process in Germany takes an average of 480 days. The bank was therefore expected to receive its license next year. However, a new partnership has now been established to speed up the process.
Shop online with cryptocurrencies now!
Deutsche Bank establishes strategic partnership with Taurus
In one strategic partnership With the Swiss crypto infrastructure platform Taurus, Deutsche Bank has given its institutional customers a path into the emerging digital asset class. The Partnership was created by Taurus confirmed that from Deutsche Bank already in a series B financing round supported with an investment of 65 million US dollars became.
According to Paul Maley, global head of securities services at Deutsche Bank, this move Part of a larger strategy to support not only cryptocurrencies but also tokenized versions of traditional financial products. “Our focus is not just on cryptocurrencies, but on supporting our customers across the digital asset ecosystem,” said Maley. In addition He expects the market to grow by several trillion US dollars.
This development comes at a time when crypto markets are facing a variety of challenges, from regulatory uncertainties to market collapses. Nevertheless, Deutsche Bank is positive about this asset class. Interestingly, the bank has stated that crypto trading is not among its “immediate plans,” despite having expressed interest in launching such services in the past.
However, Deutsche Bank is not the only major bank taking such steps. Other financial institutions such as Standard Chartered, BNY Mellon and Société Générale have already launched similar services. The announcement highlights the growing acceptance of cryptocurrencies and digital assets in the traditional financial sector.
Invest now in the most user-friendly Web3 access!
Shocking news about ex-Deutsche Bank banker in the crypto space
However, there was also less positive news about Deutsche Bank in the crypto space. The case of former Deutsche Bank investment banker Rashawn Russell could rock the crypto investment world.
Russell, who was indicted by federal prosecutors in Brooklyn, New York, in April, is now close to entering a guilty plea. Meanwhile, after repeated postponements for negotiations between Russell’s lawyers and the government, the case was referred to a magistrate judge for a “change of guilty plea.” Although the next court date is still unknown, this signals that Russell is now ready to plead guilty.
Russell was accused of Deceived investors with the promise of “guaranteed returns”.. He lured investors with fake documents that appeared to demonstrate his high liquidity. Instead of investing investors’ funds in cryptocurrencies as promised, he used them largely for personal purposes, including gambling, and to repay other investors.
In addition to the criminal charges Russell also was sued by the Commodity Futures Trading Commission. The authority claims that he Retail investors in a digital investment fund called “R3 Crypto Fund” cheated has. Between November 2020 and July 2022 it should be around Embezzled $1 million from customers have. Russell is under fire not only criminally but also civilly and could face up to 20 years in prison if found guilty.
This case represents another milestone in the increasingly intensive government prosecution of crypto fraud. However, no allegations have been made against Deutsche Bank itself and the financial company has cooperated with law enforcement throughout the investigation. Nevertheless, it could cause uncertainty among some investors.
Invest in a new type of AI marketplace now!
Conclusion
At a time when the crypto market fluctuates between regulatory ambiguity and dynamic growth, Deutsche Bank has taken a bold step. The planned licensing and strategic partnership with Taurus not only brings the bank closer to the mainstream, but also represents a real alternative to existing crypto offerings. But the case of the former investment banker, who is about to plead guilty, could cause uncertainty . In the long term, the bank should still be able to position itself successfully in the future market. The project shows how well cryptocurrencies have entered the mainstream and are likely to continue to attract further capital in the future.
Bitcoin BSC will soon inspire crowds of investors
Pre-sales for the new Bitcoin BSC started less than two weeks ago and have already been sold over $2 million in funding taken. This is one Bitcoin clone, which wants to build on the success of many version 2.0 tokens such as Bitcoin Cash, Bitcoin SV and HPOS10I ($BITCOIN). Likewise he should solve some of the biggest vulnerabilities to date like the scaling issues and the development potential in the DeFi space. The new BTCBSC offers, among other things, essential features lower gas fees and fast transaction speeds. In addition, investors can benefit from one Staking program with currently three-digit Returns benefit, which can already be used during presales.
Get your pre-sale offer from BTCBSC now!
Get decisive advantages when investing with artificial intelligence
The new yPredict project makes full use of the revolutionary potential of artificial intelligence. On the one hand it offers some of the most advanced AIs with machine learning, which can identify statistical advantages in the market and calculate large amounts of data within a very short time. The AI-based analysis and trading systems are continually evolving. In addition, like humans, they are not tempted by hindering emotions and act completely rationally, meaning investors no longer have to spend hours in front of the screen passive income can achieve. Likewise will AI solutions for other industries such as marketing, medicine and more offered on the marketplace.
Invest early in the groundbreaking AI marketplace now!
Investing is speculative. Your capital is at risk when investing. This website is not intended for use in any jurisdiction where the trading or investing described is prohibited and should only be used by persons and in a manner permitted by law. Your investment may not be eligible for investor protection in your country or state of residence. Therefore, do your own due diligence. This site is free to use, but we may receive commissions from the companies we feature on this site. In addition, the author may have investments in the assets himself, which may create a conflict of interest.
About the author: Simon Feldhusen came into contact with the stock market for the first time 17 years ago and has been intensively involved in the topics of trading, cryptoassets, stocks, P2P, corporate finance, finance and entrepreneurship on a daily basis for more than 8 years. He has also been working as a copywriter and ghostwriter in the financial sector for several years. During this time he has acquired a diversified knowledge through various training courses on the financial markets and following daily news. Since then, not a day goes by without him dealing with the markets. He publishes, among others, for Finanz.net, ETF-Nachrichten.de, Coincierge.de and P2E News.com.