It is reported that Deutsche Bank, a German multinational bank, is just a few weeks away from launching its cryptocurrency custody service.

According to a report by Reuters on Friday, Germany's largest bank also plans to expand this custody platform to Asia next year. The report quotes the head of the bank's corporate banking business.

Many large banks around the world have already launched or plan to launch encrypted custody services. In the past 18 months, Bank of New York Mellon, Deutsche Bank, Standard Chartered Bank, American bankers U.S, Bank, and Citigroup have all committed to providing direct encrypted custody services.

Deutsche Bank officially announced in September that it planned to launch Bitcoin custody services for European corporate and institutional clients. At that time, the German multinational bank stated that the service still needed to complete the applicable regulatory processes.

Friday's reports also stated that the service will initially support the custody of major cryptocurrencies such as Bitcoin, before expanding to help customers transfer funds in and out of stablecoins.

Reuters quoted Gerald Podobnik, co-head of corporate banking, as saying that the financial system will need to "provide tokenized or blockchain solutions."

In recent years, several large banks have begun to incorporate blockchain technology, which underpins the operation of Bitcoin, into their own products.

In particular, stablecoins and tokenization have become hot topics as traditional financial institutions are seeking to accelerate certain services.

For banks entering the digital assets field, encrypted custody is often the starting point. Bank of New York Mellon became the first large American bank to offer digital asset custody services in 2022.

Banks such as Citibank and Standard Chartered have also launched or announced plans to launch Bitcoin custody services on a global scale this year.