The move is part of a wider strategy to increase fee income at Deutsche Bank’s corporate bank, David Lynne, who runs the lender’s commercial banking unit, said. It also mirrors efforts at Deutsche Bank’s investment arm DWS Group to expand income from offerings linked to digital assets.
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Deutsche Bank applies for digital asset license amid growth push
“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.
