Bitpanda has announced a revolutionary cooperation that will further mainstream cryptocurrency.
Bitpanda, an Austrian cryptocurrency broker, has teamed up with Deutsche Bank to facilitate instantaneous payments and better integrate cryptocurrency with the conventional banking sector.
Bitpanda is a “trade anything platform” that has been around since 2014 and is based in Vienna. It gives investors the chance to trade digital assets, equities, metals, commodities, and crypto indexes. E-Money and PSD2 payment service provider licenses are in the company’s possession.
According to a press release from June 4th, Bitpanda became the first cryptocurrency platform to team up with a big international bank to provide its customers instantaneous payment services. Bitpanda customers will be able to use Deutsche Bank, the biggest bank in Germany, to fund and withdraw fiat funds as a result of the cooperation.
Customers in Germany who use Bitpanda may deposit and withdraw funds “with confidence” since Deutsche Bank will provide them with local IBAN numbers.
“Our goal is to make it easier for individuals to manage their own money by removing any obstacles that may stand in their way. Because of this, we must provide a service that is really local. That localization for deposits and withdrawals is something we can do thanks to our partnership with Deutsche Bank,” Bitpanda said.
Bitpanda said it was the “first time” a prominent bank has worked with a cryptocurrency platform to implement this connection, while a representative from Deutsche Bank suggested that the bank has ventured far into the realm of digital assets and that Bitpanda was only its first customer in the European market.
On June 4, a representative from Deutsche Bank informed Reuters that the bank had a similar arrangement with Hashkey, a cryptocurrency exchange located in Hong Kong. Hashkey is one of only two authorized cryptocurrency trading platforms in Hong Kong.
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