Deutsche Bank and subsidiary DWS sign MoU to explore tokenized money market funds and other products

November 12: According to The Block, Deutsche Bank officially announced on November 11 the launch of its digital asset custody (DAC) service, allowing clients to custody BTC, ETH, USDC, EURC and EURAU with the bank and to transfer them to other institutions. Meanwhile, Deutsche Bank signed a memorandum of understanding with its asset management subsidiary DWS to explore custody, settlement, liquidity management and distribution arrangements for tokenized money market funds, crypto asset ETC and stablecoins based on the DAC platform. DWS Chief Product Officer Manfred Bauer said the company plans to launch a tokenized money market fund. As of September 30, DWS had €1.22 trillion in assets under management.