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Deutsche Bank applies for cryptocurrency operator license

Deutsche Bank AG, a large German bank with $1.4 trillion under management, announced that it has applied to the German Federal Financial Supervisory Authority for permission to provide digital asset custody services.

The move reflects efforts by Deutsche Bank’s investment division, DWS Group, to increase revenue from digital asset offerings.

Deutsche Bank also has a positive stance on Bitcoin. Earlier this year, a Deutsche Bank analyst said Bitcoin could potentially become the digital gold of the 21st century.