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Deutsche Bank and cryptocurrency broker Bitpanda are teaming up to provide real-time payment solutions for its customers in Germany.
Bitpanda will be granted access to German IBANs through the API-based solution, which will streamline and enhance the user experience by boosting speed and efficiency.
Deutsche Bank has already worked with Bitpanda by offering support for its operational needs as its European Hausbank for cross-currency solutions in Austria and Spain.
Over 2,800 virtual assets as well as stocks, ETFs, and commodities are offered to retail investors by Bitpanda. Its partnership with Deutsche Bank represents its institutional expansion.
Bitpanda deputy CEO, Lukas Enzersdorfer-Konrad, praised Deutsche Bank's "commitment to working with new and innovative players in the financial industry." He said that the partnership enables Bitpanda to "access a range of Deutsche Bank’s products, unlocking benefits for our team and our users.”
Deutsche Bank global head of merchant solutions, Kilian Thalhammer, said the Bitpanda partnership "represents a key milestone as we shape this emerging ecosystem through active engagement with leading industry players.”
Last month, Deutsche Bank joined the Monetary Authority of Singapore’s (MAS) Project Guardian to explore asset tokenization.
Blockhead
The initiative explores the feasibility of asset tokenization in regulated financial markets and will see the German financial giant participate as part of the asset and wealth management workstream.
Deutsche Bank will test an open, interoperable blockchain platform designed to manage tokenized and digital funds. The bank will then propose protocol standards based on its findings.
