- Bitpanda has announced a new partnership.
- The partnership allows the crypto broker to bolster its services in Europe.
- Bitpanda’s German users will also have access to localized services.
Austrian crypto broker Bitpanda has partnered with Deutsche Bank to enable real-time payment services and further crypto’s integration with the traditional financial industry.
Founded in 2014 in Vienna, Bitpanda brands itself as a “trade everything platform” allowing investors access to digital assets, stocks, metals, commodities, and crypto indices. The company has a PSD2 payment service provider license and an E-Money license.
Deutsche Bank Partnership
In a statement dated June 4, Bitpanda said it was the first crypto platform to partner with a major international bank to provide real-time payment services for its users. The partnership will see Deutsche Bank, Germany’s largest bank, support Bitpanda clients to transfer in and out of their portfolio in fiat.
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Deutsche Bank will also provide German Bitpanda users with local IBAN numbers for deposits, allowing them to deposit and withdraw money “with confidence.”
“We are on a mission to remove as many barriers as possible for people who want to take control of their finances. That means we need to offer a truly local service. Working with Deutsche Bank we can offer that localisation for deposit and withdrawals,” Bitpanda said.
While Bitpanda stated that it was the “first time” such a well-known bank has partnered with a crypto platform to deliver this integration,” a Deutsche spokesperson implied that the bank has traversed deep into the world of digital assets and that Bitpanda was only its first such client in Europe.
The spokesperson told Reuters on June 4 that Deutsche Bank has a similar partnership with Hong Kong-based crypto exchange Hashkey, one of the only two licensed crypto trading platforms in the city.
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