Bitpanda’s latest partnership marks a giant step forward in integrating cryptocurrency with traditional banking services.
Collaboration
In a recent blog post, Bitpanda announced its partnership with Deutsche Bank, to enhance its services across Europe, and this collaboration allows the Austria-based crypto broker to provide real-time payment services and further integrate cryptocurrencies into mainstream financial systems.
German users of Bitpanda will benefit from localized services as part of this partnership.
Founded in 2014 in Vienna, Bitpanda positions itself as a trade-everything platform, offering investors access to digital assets, stocks, metals, commodities, and crypto indices.
The company holds a PSD2 payment service provider license and an E-Money license, strengthening its regulatory standing.
The big league
Bitpanda revealed that this is the first instance of a major international bank partnering with a crypto platform to offer real-time payment services.
With Deutsche Bank, Germany’s largest bank, Bitpanda users can now seamlessly transfer funds between their crypto portfolios and fiat bank accounts.
Deutsche Bank will provide German users with local IBAN numbers for deposits, allowing secure and confident transactions.
„We are on a mission to remove as many barriers as possible for people who want to take control of their finances. That means we need to offer a truly local service. Working with Deutsche Bank we can offer that localisation for deposit and withdrawals.”
First time
Bitpanda’s claim of being the first to partner with a prominent multinational bank for such services highlights the unique nature of this collaboration, but as the Deutsche Bank spokesperson suggested that the bank is already deeply involved in digital assets, indicating that Bitpanda is its first European client in this domain.
The spokesperson also mentioned a similar partnership with Hong Kong-based crypto exchange Hashkey, one of the few licensed crypto trading platforms in the region.
