February 9, 2023

Deutsche Bank Eyes Investing in Crypto

Deutsche Bank Eyes Investing in Crypto Featured Image

A sign sits above the entrance of a Deutsche Bank AG bank branch in Duesseldorf, Germany, on Wednesday, Aug. 14, 2019. Deutsche Bank Supervisory Board Chairman Paul Achleitner is searching for his successor after overseeing a tumultuous period marked by multiple restructurings, top management changes and a slumping share price. Photographer: Krisztian Bocsi/Bloomberg

Deutsche Bank is reportedly in talks to invest in two German cryptocurrency companies, according to Cointelegraph.

Deutsche Bank’s asset management company, DWS Group, held talks with Deutsche Digital Assets, a crypto exchange-traded products provider, to purchase a minority stake in it in addition to talks with Tradias, a fintech company that provides crypto trading.

CEO of DWS Group Stefan Hoops seemed to be bullish about chances offered by the digital space and crypto world, saying his company started assessing strategic partners and looking into potential opportunities, including digital assets.

Hoops pointed out that the low prices of digital assets are interesting opportunities for DWS, adding the bank has outlined a strategy toward the crypto industry as it plans to build or acquire various specific blockchain-related services.

Deutsche Bank and DWS seek to revive their growth by paying attention to investing in the crypto industry after greenwashing and tax fraud claims which resulted in launching probes in the United States and raids in Germany in May 2022.

It is worth mentioning that Deutsche Digital Assets offers investors exposure to crypto assets through a variety of investment vehicles, ranging from passive to actively managed funds, in addition to white-labeling services for asset managers, Cointelegraph reported.

Germany tops the world’s crypto economies in the third quarter of 2022, according to a report, issued by CoinHub. Germany is not a tax haven, however, it is considered as of the strongest all-around ‘traditional-tax’ crypto economies that encourages long-term crypto investment.

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