Digital currencies prompt banks to reassess investment priorities
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As digital currency businesses develop, banks are beginning to reassess investment priorities in custody, issuance, and settlement, and choose between building capabilities in-house and partnering externally. Deutsche Bank has made digital asset custody services available to paying clients; the bank is also participating with other financial institutions in Project Faro, which will provide about five years of operating funds to a planned US dollar stablecoin issuer. In a Visa pilot, Lloyds settled a $750,000 obligation through its own Canton node, with the funds reaching Visa within an hour; settlement was also possible over the weekend.
AI-written from reports · updated 2 hours ago
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- PYMNTSDigital currencies are prompting banks to reassess investment priorities
Digital currency businesses are prompting banks to reevaluate investment priorities in custody, issuance, and settlement, and to choose between building capabilities in-house and partnering externally. Deutsche Bank has begun offering digital asset custody to paying clients and, alongside other financial institutions, is participating in Project Faro, which will provide around five years of operating capital to a planned U.S. dollar stablecoin issuer. In a Visa pilot, Lloyds settled a $750,000 obligation through its own node on Canton, with the funds reaching Visa within an hour, including on weekends.
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