BitPanda Joins Hands with Deutsche Bank to Offer Real-Time Crypto Transactions
Summary:
BitPanda, a cryptocurrency trading platform, has partnered with Deutsche Bank to facilitate real-time transactions for German crypto users. The collaboration will boost the proficiency and security of transactions, with Deutsche Bank managing all fiat transfer requests from BitPanda users, ultimately allowing for a streamlined settlement process. With BitPanda's plans to utilize an API-based solution from Deutsche Bank, users will have access to a unique German IBAN for transactions. This move aims to increase cryptocurrency acceptance, and is seen as another step towards greater integration between traditional banking and the crypto industry.
BitPanda, a cryptocurrency trading platform, recently joined forces with Deutsche Bank, opening up real-time transactions for German cryptocurrency users. The notable collaboration serves to increase both proficiency and protection in transactions, providing a steady flow of liquidity to German BitPanda users. Through this association, BitPanda will use API-based account solutions from Deutsche Bank, offering access to International Bank Account Numbers (IBANs) in Germany. These internationally recognized codes are instrumental in ensuring safe, international transfers. BitPanda has plans to utilize this service to boost transaction speed and security. This agreement will bestow a unique German IBAN for deposits and withdrawals upon BitPanda users in the area, alongside a slew of other perks. Consequently, Deutsche Bank will handle all fiat transfer requests from BitPanda users, allowing for instant settlements.
Lukas Enzersdorfer-Konrad, the Deputy Chief Executive Officer at BitPanda, expressed to Cointelegraph how instrumental banks are in making cryptocurrency accessible to all. BitPanda holds a significant history of partnering with leading financial entities like Raiffeisen Bank International, LBBW, and N26, favoring cryptocurrency adoption. The brand prioritizes trust, compliance, and security, facilitating monumental strides forward. These core aspects are invaluable and must be earned organically, according to Enzersdorfer-Konrad.
Deutsche Bank will also support BitPanda in managing their treasury operations and reconciliation processes by providing safeguarding accounts and advanced payment solutions. This strategic move is expected to nurture a stronger liquidity within Bitpanda’s fundamental markets.
Highlighting the pivotal role of banks in cryptocurrency acceptance, Enzersdorfer-Konrad stressed the value these collaborations bring to consumers. He believes that robust infrastructures like BitPanda empower banks to furnish clients with top-tier crypto products and services. This is exemplified in the case of Deutsche Bank being added to BitPanda’s list of partnering institutions.
Backed by the clarity offered by the Markets in Crypto-Assets Regulation (MiCA) framework, several of Europe’s biggest banks are now stepping into the crypto solutions domain. Enzersdorfer-Konrad explained in a past interview with Cointelegraph that this regulatory structure is helping banks in Europe understand the potential of cryptocurrency as an asset category, which leads to the advancement of tokenization technology. Although banks are confident about offering crypto facilities due to clear regulations, they often lack the necessary technical knowledge, causing them to bypass research stages in favor of market releases. As a remedy for this shortfall, they rely on cryptocurrency service providers such as BitPanda.
Published At
6/4/2024 9:30:00 AM
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