A Deutsche Bank asset manager is said to be interested in acquiring positions in two cryptocurrency companies. According to Bloomberg sources, the DWS Group is also eyeing Germany’s Tradias and Deutsche Digital Assets (DDA).
The first of these, Tradias, belongs to Bankhaus Scheich and targets cryptocurrency institutional investors. The second, the DDA, promises easy access to cryptocurrencies for those who want exposure to this asset class.
While none of the three companies have commented on the matter, Bloomberg noted that Stefan Hoops, CEO of DWS Group, is a strong supporter of new technologies, including cryptocurrencies.
In another excerpt, the paper points to Hoops presenting the recent fall of cryptocurrencies “interesting opportunities” to your company, pointing out that DWS “began assessing strategic partners and researching potential targets.”
Deutsche Bank Asset Management Firm Eyes Cryptocurrencies
With €833 billion (R$4.7 trillion) in assets under management, the DWS Group is one of the largest companies in the industry. Although it spun off from Deutsche Bank after going public in 2018, the bank still owns nearly 80% of its shares.
As for Deutsche Bank itself, this is the largest bank in Germany, both in terms of assets and employees.
Therefore, the potential investment in cryptocurrency companies shows the appetite that traditional giants have for this new asset class. As a result, this could accelerate cryptocurrency exposure for the general public.
Despite Deutsche Bank’s initiative, other giants have already taken on the pioneering role. The biggest examples are Fidelity, which started offering cryptocurrencies in retirement plans, and BlackRock, which not only created a private Bitcoin fund, but also launched an ETF tied to cryptocurrencies in Europe.
Therefore, everything points to more and more financial titans following this path. After all, cryptocurrencies are a product that many of its customers, both individual and institutional, are looking for.
Hyperbitcoinization getting closer
Finally, this arrival of traditional companies in the financial sector makes us think that hyperbitcoinization is getting closer.
Basically, hyperbitcoinization means that all entities, including countries, will eventually adopt Bitcoin at some point. That is why Fidelity itself has already indicated that countries that adopt Bitcoin earlier will benefit from this.
At this point, El Salvador would be this country. Despite this, its small size should not worry world powers. That is, it now remains to be seen who will be the first major country to collect Bitcoin alongside its piles of gold, which could have a major impact on world geopolitics.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
