Donner & Reuschel, a private German bank headquartered in Hamburg, is in plan to offer cryptocurrency buying and custody to its users.
According to the organization, the decision was taken by aspiring high market demand for digital asset custody. The move is expected to launch as soon as possible.
The bank has partnered with DLC (Distributed Ledger Consulting) GmbH to work in this new field.
Donner & Reuschel further plans tokenization of assets to maximize its chances of getting benefits from the anticipated change in the finance industry.
"We have been observing the digital assets market for some time now and are convinced of the potential of blockchain technology, also with regard to traditional securities transactions," says Marcus Vitt, Spokesman from the Bank's Management Board.
Donner & Reuschel was established in 1798 and currently holds approximately $10.7 billion in assets under management.