Donner & Reuschel is a German bank headquartered in Hamburg that is specialized in private banking and has over 500 employees. Being founded in 1798 makes it one of the oldest banks in the country, and the assets that the firm has under management amount to around $10 billion.
Donner & Reuschel is now entering a different phase, spreading its services to the rising cryptocurrency sector.
Yesterday, on March 8th, the firm released a report for the press saying Donner & Reuschel will provide digital currency buying and custodial services to customers. According to the bank spokesman, this step was made because of the client’s high demand for digital asset services and will be implemented as soon as possible.
To assist in the initiation and progression of crypto custodial services, Donner & Reuschel will collaborate with Distributed Ledger Consulting firm GmbH. The bank also declared it is contemplating examining the tokenization of assets. This is believed to give more possibilities to grab the first-mover advantage from the anticipated shift of the finance sector.
The popularity of digital currencies is growing hugely these last months, and Donner & Reuschel is certain that this is the appropriate time to provide crypto services to customers. Big companies have shown a lot of faith in the cryptocurrency future, and it looks like banks are trying to keep up with these ongoing changes in the financial world.
“We have been observing the digital assets market for some time now and are convinced of the potential of blockchain technology, also with regard to traditional securities transactions,” Marcus Vitt, Spokesman of the Bank’s Management Board said.