Bitpanda Taps Deutsche Bank for Real-Time Crypto Payments

Bitpanda announces a groundbreaking partnership that pushes crypto further into the mainstream.

A German banker and a panda standing infront of the Deutsche Bank HQ building.
Created by Gabor Kovacs from DailyCoin
  • 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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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.