Deutsche Bank eyes Asia crypto custody as China’s GDP tops forecasts and XRPL patch nears activation. Today’s BTC price is near $82.5K amid Greed sentiment. The cryptocurrency market rebounded after the latest wave of leveraged position liquidations. Bitcoin briefly fell below $81K in early trading before recovering to around $82.5K, gaining approximately 1% over the past 24 hours. ETH also recovered to around $2,420 after briefly dropping below $2,350. Both major cryptocurrencies rebounded from their recent lows, although the extent of their recoveries differed. According to CoinGlass data released on the evening of October 18, total crypto market liquidations reached approximately USD 359 million over the preceding 24 hours and affected more than 103,600 traders. Long position liquidations accounted for approximately USD 281 million or 78.3% of the total. This indicates that the earlier market decline was accompanied by a substantial unwind of leveraged long positions. Meanwhile, the Crypto Fear & Greed Index rose from 53 (Neutral) the previous day to 59 (Greed). However, it remained below last week's reading of 69, suggesting that short-term risk appetite has improved but has yet to return to its earlier levels. On the macroeconomic front, China's third-quarter gross domestic product (GDP) grew 4.5% year over year and exceeded market expectations. Stronger economic data and falling international oil prices supported a rebound in some global risk assets. Nasdaq futures and South Korean equities both advanced. At the same time, investors continued to monitor U.S. inflation pressures, Federal Reserve interest rate policy and geopolitical risks in the Middle East for their potential impact on global liquidity. Overall, the market is experiencing a price recovery alongside continued leverage adjustments. Short-term buying interest has shown signs of improvement, although derivatives positions remain highly sensitive to price fluctuations.

Source: Alternative

Key News Highlights:

Deutsche Bank Plans Asian Crypto Custody Expansion in 2027 as German Launch Nears

Deutsche Bank is expanding its digital asset business and plans to launch cryptocurrency custody services in Germany before extending its operations to major Asian financial centers in 2027. According to Reuters, Gerald Podobnik, co-head of Deutsche Bank's Corporate Bank division, said the bank expects to introduce its first digital asset service within the coming weeks. The planned launch marks another step in the participation of major traditional financial institutions in cryptocurrency custody. Crypto custody involves holding digital assets on behalf of corporate or institutional clients and providing services such as wallet management, private key security and asset transfers. Deutsche Bank said its initial offering will focus on major cryptocurrencies, including Bitcoin and ETH. The bank also plans to support stablecoin-related services involving assets such as USDC, EURC and EURAU. Beyond custody, Deutsche Bank intends to introduce tokenized deposits and services that help companies issue digital bonds and other blockchain-based securities. These offerings would allow traditional banking products to be managed and settled through blockchain infrastructure. From a regulatory perspective, the services will operate under the European Union's Markets in Crypto-Assets Regulation (MiCA). Authorization from Germany's Federal Financial Supervisory Authority (BaFin) is also an important part of the launch process. Deutsche Bank has previously worked with digital asset technology providers to develop the necessary infrastructure. The bank has also incorporated digital assets into its long-term Corporate Bank strategy, which targets approximately 8% compound annual revenue growth from 2025 through 2028.

China's Third-Quarter GDP Beats Expectations as Bitcoin and U.S. Stock Futures Rally

China's latest third-quarter economic data exceeded market expectations and supported a rebound in several global risk assets during Monday's trading session. Bitcoin, Nasdaq futures and South Korean equities all recorded gains. According to China's National Bureau of Statistics, gross domestic product (GDP) grew 4.5% year over year in the third quarter. This marked an improvement from the 4.3% growth recorded in the second quarter and indicated stronger economic momentum. Meanwhile, China's retail sales increased 1.1% year over year. The figure exceeded market expectations of 0.5% and improved from the previous month's 0.4% growth, suggesting stronger consumer demand than previously anticipated. Across financial markets, Bitcoin traded near $82,500 at the time of the report and gained approximately 1.3% over 24 hours. Nasdaq futures rose more than 1%, while South Korea's KOSPI index advanced approximately 0.6%. The rebound followed a difficult week for global technology stocks as concerns over substantial capital expenditures in the artificial intelligence industry and related corporate valuations weighed on equity markets. Meanwhile, international oil prices retreated from the previous week's highs. Market participants linked part of the decline to reports that the Trump administration might ease certain sanctions on Russia, although uncertainty surrounding the potential policy changes remained. Oil price movements attracted attention because energy costs influence inflation expectations and are closely connected to Federal Reserve interest rate policy and broader financial market funding conditions. Despite the recovery in several risk assets, performance across major Asian equity markets remained mixed. Investors continued to assess China's economic data, upcoming earnings from major U.S. technology companies and developments in the geopolitical environment.

XRP Ledger Fix Expected on October 23 as On-Chain Lending Awaits Validator Approval

The XRP Ledger (XRPL) is advancing a network amendment known as fixCleanup3_4_0, which is expected to take effect on October 23 if it maintains sufficient validator support. According to XRPL governance data, the amendment has received approval from 29 of the network's 35 trusted validators. This meets the protocol's requirement for support from more than 80% of validators. Under XRPL's governance rules, an amendment must maintain the required level of support for two consecutive weeks before activation. If any validators withdraw their support during this period and the approval threshold is no longer met, the scheduled activation could be delayed. The latest update addresses code related to on-chain lending, asset vaults and token management permissions. Its primary purpose is to resolve issues that could arise when certain functions operate under specific conditions. One fix addresses a potential vulnerability involving token-burning permissions, which could allow accounts authorized only to destroy tokens to create new tokens under certain circumstances. Other changes refine how the lending system determines defaults, handles repayment deadlines and calculates asset amounts within vaults. Although the fixCleanup3_4_0 amendment has reached the required voting threshold, XRPL's on-chain lending protocol itself has received only 19 votes and still needs 10 additional approvals. The separate vault functionality supporting lending fund management has also not secured sufficient validator support. As a result, the technical fixes may become active before the lending service is available. The actual launch will depend on the approval of the remaining amendments. XRPL's proposed lending model allows loan brokers to manage assets provided by lenders while recording loan activity and repayments on-chain. Some borrower credit assessments would take place off-chain. These arrangements make permission management and risk controls important elements of the protocol's technical development.

Tether Capital Makes Strategic Investment in Asia as Total Funding Exceeds USD 9 Million

Tether Capital, the investment arm of stablecoin issuer Tether, has announced a strategic investment in enterprise artificial intelligence infrastructure company Asia through its seed extension funding round. The investment expands Tether Capital's involvement in AI and digital payment infrastructure. According to AIsa, Tether Capital and HIVEN participated in the latest round, bringing the company's total funding to more than USD 9 million. Existing investors include Alibaba, Tribe Capital, Sumitomo Corporation, Draper Associates and Saison Capital. AIsa focuses on infrastructure for enterprise AI agents. Its technology enables AI systems to use external data, models, application programming interfaces (APIs) and software tools within authorized environments. The platform also manages resource usage fees and related transaction processes. Unlike conventional AI applications that primarily provide information in response to user requests, AI agents can independently call tools, execute workflows and perform certain transactions based on assigned tasks. These capabilities require additional identity verification, permission management and payment mechanisms. AIsa's infrastructure connects external data services, AI search, models and software tools while integrating usage metering, billing management and payment settlement. This allows enterprises to monitor how AI systems consume resources and manage associated expenses. Jordan Liu, the company's founder and CEO, said enterprise AI agents require trusted information, practical tools and a governed transaction environment to execute complex tasks effectively. Tether Capital stated that the investment aligns with its broader strategy across artificial intelligence, automation and programmable payments. Its initiatives also cover technologies that enable AI systems and connected devices to conduct transactions within predefined limits. The investment focuses on supporting the integration of AI systems with digital payment tools. It also aims to strengthen enterprise capabilities in resource management, payment authorization and transaction oversight within automated workflows.

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