Deutsche Bank has become the first global bank to partner with a cryptocurrency platform to give its German customers access to real-time transfer services.
Bitpanda will allow Deutsche Bank customers to taste the crypto market. The two companies signed a partnership on Tuesday June 4 to allow the bank’s customers to make transfers in real time.
Deutsche Bank will provide real-time payment solutions to Bitpanda customers for inbound and outbound transactions while Bitpanda will provide local IBAN numbers for its German users. Customers will be able to deposit and withdraw money with confidence via a gateway between these two companies, something many European banks do not currently have.
Deutsche Bank will not process cryptocurrencies itself. The company will simply connect its customers directly with Bitpanda and enable transfers and trading. “This API-based account solution (a login interface) will provide Bitpanda with access to German IBANs, streamlining and improving the user experience and ensuring trust, speed and efficiency,” Deutsche Bank said in its statement.
If European banks have not yet decided to launch themselves as a bridge between traditional finance and the world of crypto, the fact that Deutsche Bank is joining forces with Bitpanda shows a significant step forward for the entire sector and a form of confidence of the German bank in the brand.
“As part of our strategy to become the bank of choice for high-potential platforms, the partnership with Bitpanda represents a key step in shaping this emerging ecosystem with one of the leading players in the sector,” said Kilian Thalhammer, Global Head merchant solutions at Deutsche Bank in a press release. Bitpanda strengthens its pioneering role in the crypto sector and becomes the preferred supplier to European banks.
Source: https://www.bfmtv.com/crypto/la-deutsche-bank-s-associe-a-bitpanda-pour-permettre-a-ses-clients-des-transferts-en-temps-reel_AV-202406050754.html
