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€1.3 Trillion Deutsche Bank To Offer Bitcoin and Crypto Custody For Institutions

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According to a report by Reuters, German banking giant Deutsche Bank has partnered with Swiss cryptocurrency firm Taurus to offer Bitcoin and crypto custody and other related services to its institutional clients.

“As the digital asset space is expected to encompass trillions of dollars of assets, it’s bound to be seen as one of the priorities for investors and corporations alike,” said Deutsche Bank’s global head of securities services, Paul Maley. “Our focus is not just on cryptocurrencies, but supporting our clients in the overall digital assets ecosystem.”

The announcement also comes at a time when regulatory clarity around the industry is improving. Governments and financial regulators worldwide have been working to establish clear guidelines for the use and trading of digital assets.

According to the report, Deutsche Bank is proceeding “cautiously and in line with the spirit and the letter of the regulations governing this asset class.” Maley went on to further explain that “Our product design, and the nature of custody for clients, will make sure that there isn’t the risk of contaminating the bank’s other activities.”

Bitcoin continues to gain momentum and recognition as a legitimate asset class, with the asset becoming a very attractive investment option for hedge funds, family offices, and other institutional investors. Deutsche Bank’s decision to enter this market is seen as a strategic move to capture a share of this burgeoning market.

​ For the first time, the German banking giant will be able to hold a limited number of cryptocurrencies for its clients. 

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Crypto News

Salvadoran Government Introduces Bitcoin Banking Law Reform

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The Salvadoran government presented an initiative to accelerate the inclusion of Bitcoin and other crypto in its investment banking sector.

​ The Salvadoran government presented an initiative to accelerate the inclusion of Bitcoin and other crypto in its investment banking sector. 

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Crypto News

Paxos Lays Off 65 Employees Following Yield-Bearing Stablecoin Launch

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According to sources familiar with the matter, the stablecoin issuer Paxos is cutting 20% of its workforce.

​ According to sources familiar with the matter, the stablecoin issuer Paxos is cutting 20% of its workforce. 

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Openai Reportedly Mulling For-Profit Shift – News Bytes Bitcoin News

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Openai, the artificial intelligence (AI) company, is considering shifting to a for-profit model, according to reports.

​ Openai, the artificial intelligence (AI) company, is considering shifting to a for-profit model, according to reports. 

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