Deutsche Bank, Germany's largest bank, is evaluating stablecoin issuance and tokenized deposit applications, reflecting the accelerated embrace of digital assets by traditional financial institutions as regulations become clearer. (Synopsis: Uber is considering "cryptocurrency payments" for passengers for the third time: stablecoins are very rich!) (Background supplement: US Vice President Vance Vance Bitcoin Conference speech full: BTC is the best political safe haven asset, 50 million Americans have held and supported stablecoin legislation) Germany's largest bank, Deutsche Bank (Deutsche Bank AG) revealed this week that it is actively evaluating options for issuing stablecoins, as well as the application potential of tokenized deposits. This reflects that traditional financial institutions are accelerating the pace of digital transformation as regulatory frameworks mature. Deutsche Bank's Digital Asset Strategy Sabih Behzad, head of Deutsche Bank's Digital Asset and Currency Transformation Division, said in a recent interview that the bank is evaluating multiple avenues to participate in the stablecoin industry. Behzad noted: "We can certainly see the momentum of stablecoins as well as a supportive regulatory environment, especially in the US. Banks have a variety of options to participate in the stablecoin industry, from acting as reserve managers to issuing their own stablecoins alone or through alliances." He added that the bank is also evaluating the possibility of developing its own tokenized deposit solution for payments. Stablecoins are tokens pegged to fiat currencies such as the U.S. dollar or euro, while tokenized deposits are digital tokens issued by regulated banks that represent claims on bank deposits, both with the goal of making payments faster and less costly. Active deployment of global financial institutions According to Bloomberg News last week, Santander (Banco Santander SA) also initially plans to provide stablecoin and cryptocurrency deposit and withdrawal services to its digital banking retail customers. In addition, DWS Group, a Deutsche Bank unit, has formed a joint venture with Dutch market maker Flow Traders Ltd. and cryptocurrency fund management company Galaxy Digital Holdings Ltd. to issue euro-denominated tokens. Steven van Rijswijk, CEO of ING (ING Groep NV), also said recently: "I do see the role of European stablecoins or European banks in terms of stablecoins, especially for settlement purposes in the digital world." Regulatory developments and future outlook The EU's Crypto Asset Market Regulation (MiCA) came into effect in mid-2024, providing a legal framework for European banks to participate in stablecoin businesses, requiring full reserves, transparency, and authorization from financial regulators. In the United States, major banks, including JPMorgan Chase, Bank of America, Citigroup and Wells Fargo, are discussing the creation of an alliance-backed stablecoin to counter competition from fintech and cryptocurrency companies; At the same time, the proposed GENIUS Act in the United States also attempts to establish a regulatory framework for stablecoins. Overall, Deutsche Bank's active exploration of stablecoins and tokenized deposits is a microcosm of the global financial institutions' march into the field of digital assets. As the regulatory environment becomes clearer, traditional banks are embracing the potential of blockchain technology to create more efficient and convenient financial services. Related reports The Bretton Woods system on the chain: stablecoins, U.S. bonds and the new architecture of the 21st century dollar Stablecoins have been tempered for 10 years, and finally become the digital cash representative endorsed by the US government Circle, BlackRock's "cooperative IPO" details exposed: Blackrock takes over 90% of USDC reserve assets, bans the issuance of stablecoins (Germany's largest) Deutsche Bank: is evaluating the issuance of stablecoins and RWA deposit tokenization applications" This article was first published in BlockTempo The most influential blockchain news media.
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Germany's largest Deutsche Bank: is currently assessing the issuance of stablecoins and the tokenization applications of RWA deposits.
Deutsche Bank, Germany's largest bank, is evaluating stablecoin issuance and tokenized deposit applications, reflecting the accelerated embrace of digital assets by traditional financial institutions as regulations become clearer. (Synopsis: Uber is considering "cryptocurrency payments" for passengers for the third time: stablecoins are very rich!) (Background supplement: US Vice President Vance Vance Bitcoin Conference speech full: BTC is the best political safe haven asset, 50 million Americans have held and supported stablecoin legislation) Germany's largest bank, Deutsche Bank (Deutsche Bank AG) revealed this week that it is actively evaluating options for issuing stablecoins, as well as the application potential of tokenized deposits. This reflects that traditional financial institutions are accelerating the pace of digital transformation as regulatory frameworks mature. Deutsche Bank's Digital Asset Strategy Sabih Behzad, head of Deutsche Bank's Digital Asset and Currency Transformation Division, said in a recent interview that the bank is evaluating multiple avenues to participate in the stablecoin industry. Behzad noted: "We can certainly see the momentum of stablecoins as well as a supportive regulatory environment, especially in the US. Banks have a variety of options to participate in the stablecoin industry, from acting as reserve managers to issuing their own stablecoins alone or through alliances." He added that the bank is also evaluating the possibility of developing its own tokenized deposit solution for payments. Stablecoins are tokens pegged to fiat currencies such as the U.S. dollar or euro, while tokenized deposits are digital tokens issued by regulated banks that represent claims on bank deposits, both with the goal of making payments faster and less costly. Active deployment of global financial institutions According to Bloomberg News last week, Santander (Banco Santander SA) also initially plans to provide stablecoin and cryptocurrency deposit and withdrawal services to its digital banking retail customers. In addition, DWS Group, a Deutsche Bank unit, has formed a joint venture with Dutch market maker Flow Traders Ltd. and cryptocurrency fund management company Galaxy Digital Holdings Ltd. to issue euro-denominated tokens. Steven van Rijswijk, CEO of ING (ING Groep NV), also said recently: "I do see the role of European stablecoins or European banks in terms of stablecoins, especially for settlement purposes in the digital world." Regulatory developments and future outlook The EU's Crypto Asset Market Regulation (MiCA) came into effect in mid-2024, providing a legal framework for European banks to participate in stablecoin businesses, requiring full reserves, transparency, and authorization from financial regulators. In the United States, major banks, including JPMorgan Chase, Bank of America, Citigroup and Wells Fargo, are discussing the creation of an alliance-backed stablecoin to counter competition from fintech and cryptocurrency companies; At the same time, the proposed GENIUS Act in the United States also attempts to establish a regulatory framework for stablecoins. Overall, Deutsche Bank's active exploration of stablecoins and tokenized deposits is a microcosm of the global financial institutions' march into the field of digital assets. As the regulatory environment becomes clearer, traditional banks are embracing the potential of blockchain technology to create more efficient and convenient financial services. Related reports The Bretton Woods system on the chain: stablecoins, U.S. bonds and the new architecture of the 21st century dollar Stablecoins have been tempered for 10 years, and finally become the digital cash representative endorsed by the US government Circle, BlackRock's "cooperative IPO" details exposed: Blackrock takes over 90% of USDC reserve assets, bans the issuance of stablecoins (Germany's largest) Deutsche Bank: is evaluating the issuance of stablecoins and RWA deposit tokenization applications" This article was first published in BlockTempo The most influential blockchain news media.