Deutsche Bank Supports Crypto Business in APAC

Deutsche Bank will provide corporate banking services for Crypto.com in Singapore, Australia, and Hong Kong, with additional commitments to further banking support.

Crypto.com announced a partnership with Deutsche Bank, which will handle the cryptocurrency exchange’s corporate financial operations in the Asia-Pacific region. Initially, the collaboration will focus on the markets of Singapore, Hong Kong, and Australia, with potential expansion to other countries in the region.

On social media, Crypto.com hinted at the possibility of extending this partnership to European markets and the U.K. in the future.

Deutsche Bank, Germany’s largest financial conglomerate, offers traditional banking services as well as digital asset custody, fiat-to-crypto exchange, and cross-border trading services for cryptocurrency companies.

According to the press release, the collaboration with a leading financial services provider ensures seamless corporate banking operations for Crypto.com, enhances process efficiency, and strengthens its position in the Asia-Pacific region. This partnership also highlights Crypto.com’s commitment to high-security standards and regulatory compliance.

Earlier in 2024, Deutsche Bank joined Project Guardian to test open digital distributed ledger technology (DLT) architecture for asset tokenization in regulated financial markets and to contribute to developing standards for real-world asset (RWA) protocols. The bank also enabled instant inbound and outbound payments using digital assets through international bank accounts (IBAN) for residents of Germany.

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