Deutsche Bank exploring stablecoins, tokenized deposits, Bloomberg reports

Deutsche Bank (DB) is exploring stablecoins and tokenized deposits, and is considering options such as issuing its own token or joining an industrywide initiative, Bloomberg’s Arno Schuetze and Anna Irrera report. The bank is also assessing the development of its own tokenized deposit solution for use in payments, with the goal of making payments faster and cheaper, Sabih Behzad, Deutsche Bank’s head of digital assets and currencies transformation, said in an interview, adding that Deutsche Bank is participating in various initiatives, including Project Agora and a partnership with Taurus, to explore the use of tokenization in wholesale cross-border payments and develop digital-asset custody services. “We can certainly see the momentum of stablecoins along with a regulatory supportive environment, especially in the U.S.,” Behzad said. Publicly traded companies in the space include Bit Digital (BTBT), Bitfarms (BITF), Coinbase (COIN), Core Scientific (CORZ), Greenidge Generation (GREE), Mara Holdings (MARA), Riot Platforms (RIOT), Strategy (MSTR), Stronghold Digital Mining (SDIG) and TeraWulf (WULF).