Deutsche Bank Signs Memorandum with DWS to Explore Tokenized Money Market Funds

Deutsche Bank announced on November 11 that its digital asset custody service is now live, allowing clients to custody BTC, ETH, USDC, EURC, and EURAU with the bank and transfer to other institutions. Deutsche Bank has 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 ETCs, and stablecoins based on the DAC platform. Manfred Bauer, Chief Product Officer at DWS, stated that the company plans to launch a tokenized money market fund. As of September 30, DWS had assets under management of €1.22 trillion.

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