Deutsche Bank in Talks to Invest in 2 German Crypto Firms: Bloomberg

According to a report, Deutsche Bank AG’s asset management group is looking to invest in two German crypto-companies as part of its growth strategy. Bloomberg report.

Bloomberg was informed by people familiar with the matter that Stefan Hoops (the CEO of the division) has entered negotiations to purchase a minority stake at Deutsche Digital Assets. This provider of exchange-traded goods as well as trading company Tradias is owned by Bankhaus Scheich, a leading securities trading bank.

Hoops, a long-time crypto advocate, stated that the current low price of crypto assets could provide “interesting opportunities for DWS” during an earnings call last Wednesday.

Hoops stated that one of the company’s goals was to place its products on the Blockchain. He also mentioned the vision of creating a stablecoin based in the euro and building or investing in other blockchain-related services.

Deutsche Bank did not respond immediately to a request for comment.

By David Warsh

David Warsh is a leading expert in the field of cryptocurrency and blockchain technology. With over a decade of experience in the industry, he has a deep understanding of the intricacies of digital currencies and the potential they hold for revolutionizing various industries.