Deutsche Bank is a German bank founded in 1870. It provides financial services to more than 75 million customers in over 70 countries and serves as one of the largest banks in Europe, with operations throughout Asia-Pacific, North America and Africa. Deutsche Bank has been involved in cryptocurrency since 2017 when it began offering custodial services for cryptocurrencies such as Bitcoin, Ethereum, Litecoin and others. The bank also offers trading services on digital assets through its Global Markets division. In 2019 they partnered with blockchain platform HQLAx to launch a collateralized lending service using Ripple’s XRP token as collateral.
In 2020 Deutsche Bank announced that it would be launching its own stablecoin project called DBCoin which will operate on Stellar Lumens’ network allowing users to pay any other user around the world instantly at no cost regardless of their geographic location or currency type used by both parties involved . This could potentially revolutionize global payments making them faster, cheaper and more secure than ever before while reducing the need for traditional banking infrastructure such as correspondent banking networks resulting in significant cost savings for businesses who rely heavily on international transfers
The project however remains at an early stage currently so we cannot expect immediate results but this partnership between two large corporate entities shows promise that DLT technology can bring much needed improvements even within larger established companies like Deutsche Bank who have traditionally relied purely upon fiat currencies
