Deutsche Bank's asset management arm explores stakes in two crypto firms cryptocurrency crypto DeutscheBankAG
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Tradias, a market-making firm owned by Bankhaus Scheich, is another potential target for investment. In late 2021, Frankfurt prosecutors selected Tradias to sell confiscated cryptocurrency in a way that minimized volatility. Like with DDA, discussions to invest in Tradias center on purchasing a minority stake.
During an earnings call last week, Hoops said that DWS has “started to assess strategic partners and commence due diligence on potential targets” in areas where it wants to develop new capabilities, such as digital assets. According to Hopps, the recent drop in digital asset prices could yield “interesting opportunities” for DWS.
The results of a survey commissioned by the bank found that 70% of the institutions surveyed indicated that they would increase their digital asset activity if services like custody and execution were available from recognized, trusted institutions. 88% signaled that they are still moving forward with their previously determined plans despite the market downturn.
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