One of the world’s largest banks is diving deeper into the crypto space
Cryptocurrency investors in Germany can now use Bitpanda to make real-time transactions after the platform recently partnered with Deutsche Bank. The collaboration enhances transaction efficiency and security, providing strong liquidity for Bitpanda’s users in Germany.
The partnership allows Bitpanda to employ an application programming interface (API)-based account solution that enables the platform to process German International Bank Account Numbers (IBANs).
IBANs are universal international codes that assist institutions in securely processing international transactions. Bitpanda seeks to use them to enhance transaction security. German Bitpanda customers will receive an IBAN for withdrawals and deposits.
All Bitpanda fiat deposits or withdrawals on the platform will now use Deutsche Bank for real-time transactions.
Bitpanda Deputy CEO Lukas Enzersdorfer-Konrad highlighted the importance of banks in helping make crypto available to more individuals.
“We have made a point over the last decade of focusing on trust, compliance, and security, and that’s what makes these leaps forward possible. You can’t buy trust or integrity; you have to earn it, and that’s what we’ve done.”
Deutsche Bank will support Bitpanda’s platform by offering secure accounts and value-boosting payment methods, which should result in solid liquidity covering Bitpanda’s core marketplace.
Enzersdorfer-Konrad also believes the end users will benefit most from crypto partnerships with banking institutions. “Our infrastructure enables these banks to offer their customers the full capabilities of a first-class crypto product. It is a sign of the maturity of players like Bitpanda that we can now add Deutsche Bank as a major international bank to the list of institutions that partner with us,” he said.
