A Vienna-located crypto exchange, Bitpanda, has just succeeded in establishing a partnership on an exclusive basis with only one customer segment of Landesbank Baden-Württemberg, the largest of all German federal banks. This agreement ensures that the German people have Bitpanda crypto custody and dedicated trading execution.
In addition, Bitpanda received a crypto trading and custody license from the German Federal Financial Supervisory Authority (BaFin), which allowed to use of order books and provide directly market crypto services at the country level by the end of November 2019.
This will involve integrating Bitpanda with the crypto community, as this innovative firm is impacting the entire crypto world. Its release date is 18 July 2018, and it is from his CEO, Lukas Enzersdorfer-Konrad. Bitpanda, an Austrian fintech startup project that started operating in 2014 and became a unicorn in 2021, has been fully licensed to work in the entire European Union. Licensees of this drug cover Austria, France, Italy, Spain, the United Kingdom, the Czech Republic, and Sweden.
Bentwistteren government’s Landesbank Baden-Württemberg took the initiative to entrust Bitpanda with the purpose of allowing German citizens to have safe access to a lot of crypto assets. This cooperation, in addition to imparting Bitpanda’s position as a digital asset provider on the European market, cements its earlier gained licenses together with registrations as a VPA in divergent jurisdictions.
A collaboration of this kind not only reflects an increasingly widespread level of acceptance and incorporation of digital assets into established financial establishments but also highlights a notable tendency for the growing availability of cryptocurrencies in the mainstream of the German economy.
Bitpanda, Landesbank BW: Unlocking crypto access
Bitpanda’s collaboration with Landing Bank Baden-Württemberg is compatible with a new digital asset-accepting trend unfolding among the banks. In year January, the cooperative bank in Austria let its customers buy and sell digital assets through Bitpanda platform (RLB NÖ-Wien). This step sent a message that the bank is now aiming to integrate crypto services into the existing platforms for bank customers and enable them to be more accessible and convenient.
In addition to the 2000 digital assets that the customer can buy within the RLB NÖ-Wien banking app, it is worth to mention that the customer has more chances than before in getting to digital assets. This represents a major step in giving the traditional banking users more freedom in digital assets.
Here, this non-stop partnership ensures that customers may diversify their portfolios and access investments that they can settle in their banking app. Bitpanda’s infrastructure underpins transactions and guarantees the security of the trade as customers experience unproblematic trading.
DZ Bank enters crypto space with trading trial
The fact that traders of cryptocurrencies have been given a space inside the traditional banking institutions in Germany is a sign that the financial services industry is changing. In February, DZ Bank, the second-largest bank in Germany, announced its intention to conduct the fixture of a retail crypto-trading trial that would enable its private customers to trade cryptos. The fact that the bank program involves cryptocurrencies shows the investors’ rich appetite for cryptocurrency investments, to the extent that banks are forced to come up with their offerings to meet the client’s wishes.
DBDX, the new crypto trading service of the much bigger German Stock Exchange, points out the expansion of crypto trading to the institutional levels. The tightly controlled platform of DBDX offers institutional clients a secure and allowable environment for trading, settlement, and custody of cryptocurrency assets.
