Deutsche Bank

Germany expects slow 2024 growth after a 2023 GDP contraction. Deutsche Bank invests $65 million in a partnership with Swiss firm Taurus to meet rising cryptocurrency demand. Stay updated on Germany's economy via Wikipedia's 'Economy of Germany' page, including the Deutsche Bank-Taurus partnership.

Ralph Fontones

10/11/20231 min read

brown concrete gate under white clouds
brown concrete gate under white clouds

Germany has the largest national economy in Europe and is considered one of the strongest economies in the world. However, it is important to note that Germany’s economic growth has been facing some challenges. According to the IMK Institute, experts predict a 0.7% growth for Germany’s economy in 2024, which is significantly lower than previous forecasts. Additionally, five economic institutes are forecasting a 0.6% contraction in Germany’s gross domestic product (GDP) for 2023. These predictions indicate a lack of momentum and caution about the future economic performance of Germany.

Germany's own Deutsche Bank has partnered with Taurus, a Swiss digital asset infrastructure firm, to provide cryptocurrency custody services for institutional clients. This partnership will enable Deutsche Bank to offer its customers cryptocurrency custody and trading services. The German bank has invested in Taurus as part of a $65 million Series B fundraising round. The collaboration aims to meet the growing demand for crypto-related services and provide institutional clients with secure and reliable solutions for managing their digital assets.

For more detailed information about Germany’s economy, you can refer to the Wikipedia page on the Economy of Germany.

Please note that economic conditions can change over time, so it’s always a good idea to stay updated with the latest news and official reports for the most accurate and current information.

Please note that the details of this partnership may evolve over time, so it’s always a good idea to refer to the latest news and official announcements for the most up-to-date information.