Deutsche Bank Seeks Crypto Custody License

Deutsche Bank seeks crypto custody license

Deutsche Bank, Germany's largest financial institution with over €1.14 trillion in assets under management, has submitted an application to the financial regulatory body in Germany to offer cryptocurrency custody services. 

A representative of the bank confirmed to Blockworks through an email on Tuesday that Deutsche Bank has indeed sought a crypto custody license from BaFin. 

The news was initially brought to light by Bloomberg, who quoted David Lynne, the global head of corporate banking at Deutsche Bank. Lynne was reported to have stated that the bank is looking to expand its digital assets and custody business. However, BaFin chose not to comment on the matter.

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Bitcoin investors hold tight in uncertain times

Even with the uncertainty brought about by new rounds of regulatory lawsuits and subdued market trends, on-chain analytics indicate that bigger cryptocurrency investors are holding on tight during these doubtful times.

On Tuesday, there was a record-breaking number of distinct addresses holding a minimum of one bitcoin, surpassing one million. This comes as the market is still processing the spot ETF filing by Blackrock late last week.

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Binance set to integrate Bitcoin Lightning Network

Binance has initiated the operation of Lightning nodes in preparation for the incorporation of Bitcoin's Lightning Network for transactions. The exchange's official Twitter handle acknowledged this development on Tuesday morning, responding affirmatively to observant users who noticed the Lightning Network nodes of the exchange. The intention to support the Lightning Network was initially hinted by Binance on May 8.

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31% of young Aussies hold crypto despite being ‘risk averse’

Even though they perceive themselves as less inclined to take risks compared to the older generation, almost one-third of youthful Australian investors have possessed or traded digital currencies in the past year, according to a recent survey. 

A research conducted by the Australian Securities Exchange (ASX) revealed that 46% of the "upcoming generation investors" — the term used in the study for investors aged between 18 and 24 — claimed to favor "steady returns". However, a significant 31% of these young investors have made considerable investments in cryptocurrency.

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Crypto exchange Gemini to expand Asia-Pacific operations

Gemini, a cryptocurrency exchange, has set its sights on broadening its presence in the Asia-Pacific (APAC) area, which it believes will fuel the future expansion of cryptocurrency. The New York-headquartered firm revealed in a blog post on Monday that its management team has recently visited the APAC region as part of their worldwide journey to promote the potential of crypto. This move towards expansion seen in Gemini is a part of their efforts to make their mark internationally, especially considering the heightened regulatory scrutiny faced by crypto exchanges in the U.S. this year.

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Other breaking news

• UK Approves Crypto Laws
• opBNB Testnet Live
• Aevo running a Taker Incentive Program
• Curve community voting on adding WETH
• Cardano's ADA paints 'Death Cross'

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Wrapping up

That’s all, folks! Another Datawallet newsletter for Tuesday. It seems that Australians enjoy owning crypto as ⅓ of the youth hold crypto. Gemini is looking to expand its business, while Binance looks to add support for Lightning Network. Stay informed and ahead of the game with our daily crypto scoop. See you tomorrow!