Deutsche Bank is going to invest in German crypto companies

The asset management division of Germany's largest commercial bank Deutsche Bank (DWS) is in talks to invest in two German cryptocurrency companies.

DWS Group CEO Stefan Hoops said that he is now personally discussing the purchase of shares in the supplier of cryptocurrency exchange products Deutsche Digital Assets. The head of the group is also in talks with Tradias, an over-the-counter trading platform for cryptocurrencies and security tokens launched by Bankhaus Scheich in 2020.

Banker says he is optimistic about digital asset opportunities. Falling digital asset prices could lead to “exciting opportunities” for DWS, he said.

Speaking about the bank’s strategy for the cryptocurrency industry, Hoops mentioned a plan to create or acquire “various blockchain-related specific services.”

Deutsche Bank analysts have been following the crypto market for a long time and periodically make public their forecasts for the development of the situation and the cost of the main cryptocurrencies.. For example, last year they predicted the price of bitcoin by winter at around $28,000.