For years, Deutsche Bank has periodically announced plans related to blockchain, crypto, or digital assets. Now, with a new partnership, the financial institution is taking a more pronounced step into the spotlight.

Deutsche Bank is entering into a partnership with Taurus, a technology provider specializing in tokenization and crypto custody. The bank intends to integrate Taurus's technology to offer its own custody and tokenization services. However, the specifics of Deutsche Bank's plans remain undisclosed.

Taurus's technology allows for the "storage and management of the broadest range of cryptocurrencies" and, where possible, staking. Additionally, it can "digitize and tokenize any type of asset through any standard," including NFTs. Furthermore, stablecoins or other digital currencies can be incorporated into the settlement process. In essence, the possibilities are vast.

Paul Maley from Deutsche Bank explains that the digital asset market is expected to encompass trillions of dollars. As a custodian, Deutsche Bank must "begin to adapt to support its clients." However, his statement remains somewhat ambiguous.

One can only speculate about the financial institution's future plans. As early as 2015, Deutsche Bank "successfully" tested transferring bonds onto a blockchain and joined a consortium of banks a year later to utilize blockchains. A 2020 WEF report reveals Deutsche Bank's intentions to "establish a fully integrated custody platform for institutional clients and their digital assets." This seems to focus less on genuine cryptocurrencies and more on tokenized assets, a sentiment echoed by a 2021 survey among the bank's clients.

Since its inception in 2018, the Swiss startup Taurus has positioned itself as a technology provider, equipping financial institutions with infrastructure for digital assets. With this offering, Taurus has successfully collaborated with 25 financial institutions, including Credit Suisse, Deutsche Bank, Swissquote, and Vontobel. However, the extent to which these collaborations have materialized into concrete projects remains uncertain.

So far, most known applications appear to be demos, such as an NFT of the Swiss Women's National Football Team, issued in collaboration with Credit Suisse. Other specific initiatives include cryptocurrency exchange a tokenized promissory note with SCCF and Horizon Capital and issuing tokenized bonds from CODE41 and Cité Gestion.

Overall, Taurus seems to be well-received by banks, especially in Switzerland, aiming to bridge traditional and crypto finance, likely encompassed by the term "digital assets."

For banks, Taurus is attractive enough to secure a €65 million investment from its clients, including Credit Suisse and Deutsche Bank. This investment aims to "support Taurus's growth strategy" and ensure that the technology reaches more financial institutions.

It is hoped that this won't be the last news about digital assets and Deutsche Bank. Hopefully, the outcome will be more than just repackaging old offerings in a new guise.