Deutsche Bank will launch a service for storing cryptocurrencies

Germany's Largest Financial Conglomerate Creates Its Own Cryptocurrency Storage Solutionforinstitutional investors.

Germany's leading financial institution, Deutsche Bank, is developing its own depository for cryptocurrencies. This was reported in a report by the World Economic Forum.

With the help of it, the German financial conglomerate intends to offer its clients the following services:

• Management of an array of digital and fiduciary money.
• Hot and cold wallet security with optional insurance.

As of October 2020, Deutsche Bank's crypto depository was in proof of concept status. How the product's status is now remains unknown.

German treasure trove of cryptocurrencies

It is expected that the project will pay off due tofunds fees, including storage, tokenization and trading fees. At the start, the financial institution will offer verified cryptocurrency services on behalf of institutional investors.

Subsequently, Deutsche Bank intends to providethe ability to buy and sell cryptocurrency through partnerships with brokers, issuers and cryptocurrency exchanges. As part of the transition to the crypto market, Deutsche Bank will also provide additional services in the form of tax calculation, lending, staking, etc.

It is noteworthy that further financialThe conglomerate even plans to provide the ability to issue its own digital currencies. The sandbox will include a full suite of KYC / AML, regulatory compliance, and more.

Deutsche Bank's movement towards the marketvirtual assets is consistent with the bank's previous statements. In September 2020, bank experts noted that central bank digital currencies (CBDCs) would significantly impact financial relationships around the world. It is worth noting that Deutsche Bank indicated back in December 2019 that the adoption of digital currencies was inevitable.

According to the financial conglomerate’s forecasts, in the next decade, cryptocurrencies will become the cornerstone of the modern global economy.

Where is it more profitable to buy bitcoin? TOP-5 crypto-exchanges

For a safe and convenient purchase of cryptocurrency, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that supportDeposit and withdrawal of funds inrubles, hryvnias, dollars and euros.

The most reliable platforms with the largest cash turnover have been for several yearsthe largest cryptocurrency exchange in the world is Binance.Binance is the most popular crypto exchange in the CIS, as it hasmaximum trading volumes and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

#	Cryptocurrency exchange	Official site	Site evaluation
1	Binance (Editor's Choice)	https://binance.com	9.7
2	OKEx	https://okex.com	7.4
3	Exmo	https://exmo.me	6.9
5	Huobi	https://huobi.com	6.5
5	Yobit	https://yobit.net	6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• Platform Features– availability of additional features — futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

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