Why Is Deutsche Bank Suddenly Chasing Crypto Like It Owes It Money?

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Now, rumor has it from some paper called the Wall Street Journal—on a Monday, no less—that Deutsche Bank, that big ol’ German money machine, is fixin’ to cozy up tighter with the wild and woolly U.S. crypto index. Sounds like they’re betting on a horse they barely know, but well, money talks, and nonsense walks.

Seems the U.S., bless its unpredictable heart, has gone all in on crypto, throwin’ open the door like a Granny welcoming trick-or-treaters—regulations shifting quicker than a cat on a hot tin roof. Our German friends are just trying to keep up without stirrin’ the pot too much.

Now, this juicy tidbit came from a feller in the know, though Deutsche Bank hasn’t exactly hollered it from the rooftops yet. Maybe they’re just keeping their poker face on, or maybe they’re still trying to puzzle out what blockchain really means.

Meanwhile, across the pond, Standard Chartered—another bigwig from Britain—is sniffin’ around the crypto patch too, hopping into a global consortium like it’s the newest picnic spot in town.

If you think these banks just woke up to blockchain yesterday, think again. Back in the dusty summer of 2015, Deutsche Bank poked its nose into blockchain like a curious raccoon. They even said this blockchain thing would be the next big shindig.

Fast forward to 2020, and Deutsche Bank was rubbing elbows with JPMorgan in some fancy blockchain-based payment network, probably trying not to spill their coffee on it.

But then, just a year later, they looked Bitcoin dead in the eye and called it “unsuitable” for payments—like calling Aunt Sally’s fruitcake “edible.” Yet, they admitted Bitcoin was just too big a beast to ignore, sort of like that uncle who always crashes family dinners.

That same year, Deutsche Bank even started talking about holding onto digital assets—staking their claim in this digital wild west.

And would you believe it, come June 2023, they went ahead and filed for a cryptocurrency custody license in good ol’ Germany, as if they were getting ready to babysit these unruly digital coins after all.

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2025-04-21 18:57