%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment German lender Deutsche Bank (NYSE: $DB ) has officially launched its cryptocurrency custody service for institutional and corporate clients in Europe. The new service allows customers to store and transfer Bitcoin (CRYPTO: $BTC ), Ethereum (CRYPTO: $ETH ) and an assortment of stablecoins through the German bank. Deutsche Bank said in a statement that its service is now live and operational, giving it the ability to manage digital wallets and private keys on behalf of its large corporate clients that include asset managers, hedge funds, and sovereign wealth funds. Paul Maley, Deutsche Bank's global head of trust and securities services, said custody is a first step and that the bank intends to expand into blockchain-based financial services. Deutsche Bank has not identified its first customers or disclosed the fees its charges for holding client's digital assets. The bank's digital asset custody platform offers hardware-protected private key storage, warm and cold wallets, multiple approval controls, and separate storage arrangements. While Deutsche Bank is emphasizing the security of its custody service, some analysts are questioning the timing of the launch coming as it does after the recent Binance hack. On Oct. 30, Binance, the world's largest crypto exchange, reported that $6.3 billion U.S. in digital assets had been stolen from its platform. Since then, investors, including large institutions, have pulled more than $10 billion U.S. in crypto and cash from Binance. Analysts say that the Binance hack has shaken investor confidence in crypto custody services provided by third parties. DB stock has declined 2% in the last 12 months to trade at $37.10 U.S. per share in New York.