Donner & Reuschel, a Hamburg-headquartered private bank, is to offer crypto asset purchasing and custody to its users.
In line with the institution, the choice to maneuver forward with the launch – planned “as soon as possible” – was prompted by high market demand for virtual asset custody.
DLC Distributed Ledger Consulting GmbH has been brought in as a consultant partner for the bank’s new direction.
Donner & Reuschel next plans “to intensively address” tokenization of assets to maximize its chances of benefitting from an anticipated shift within the finance industry.
“We are observing the digital assets marketplace for a while now and are convinced of the potential of blockchain technology, also with reference to traditional securities transactions,” explained Marcus Vitt, Spokesman of the Bank’s Management Board.
Donner & Reuschel was established in 1798 and holds around $10.7 Bln in digital assets under management.