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Deutsche Bank dabbles in cryptocurrencies; collaborates with fintech unicorn Bitpanda
Bitpanda, a Vienna-based fintech unicorn, announced on Tuesday that it has partnered with Deutsche Bank.
“For the first time, a major international bank has partnered with a cryptocurrency company to provide this integration,” says Eric Demuth, CEO of Bitpanda.
This partnership will provide real-time payment services, including local IBANs for German Bitpanda users.
The partnership aims to promote the integration of cryptocurrencies with the traditional financial sector for a more integrated financial landscape.
“Since last year, there has been a notable increase in interest from large financial institutions in the world of cryptocurrencies. Whether B2B via Bitpanda Technology Solutions or now with this partnership spanning the entire Bitpanda Group and Deutsche Bank,” adds Demuth.
The announcement comes after Bitpanda insured Crypto license offered by German regulator BaFin.
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Through Bitpanda Custody, the Group is also able to provide custody services in the UK in addition to Bitpanda’s existing licenses in the European Union.
“Together with Deutsche Bank, we are raising the industry standard and advancing the integration of cryptocurrencies with the traditional financial sector. This partnership indicates the change that is happening and brings us closer to realizing our vision,” he adds.
Bitpanda: Simplifying wealth
Founded in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer as a cryptocurrency trading platform, Bitpanda‘s mission is to make wealth creation easier.
The platform removes complicated financial barriers through digitized assets and blockchain technology. It allows users to trade Bitcoin, Ethereum, gold and over 100 other digital assets.
The Austrian platform offers low commissions, 24/7 trading and real-time settlements. As a result, everyone can start investing (from €1) and take responsibility for their financial future.
The company operates under various VASP registrations, as well as MiFID II, E-Money and PSD II licenses in all of its major markets.