Bitpanda Partners With Deutsche Bank In Unique Crypto Industry Tie-up

In its initial days, the crypto industry and blockchain technology came swinging in with great promise and a threat of rendering traditional financial institutions obsolete.

However, the crypto industry has been through numerous ups and downs since then.

While both crypto and traditional banking institutions stand strong, organizations from the two industries have begun integrating their services to offer their users and customers the best of both worlds with the aim of streamlining processes and improving usability.

In line with this thought, Bitpanda, one of Europe's leading and regulated multi-asset broker platform, along with Deutsche Bank, the leading bank in Germany that enjoys a global network, announced that the two were building on their previous partnership to offer users enhanced experiences and better operability.

So, what did the two organizations reveal? Let’s explore!
 

What Did Deutsche Bank And Bitpanda Announce?

 

• As per a news release published on its website, Deutsche Bank announced it had partnered with Bitpanda to ease Bitpanda user deposit and withdrawal processes.

• Bitpanda comes in with a user base of over 4 million users and many institutional partners.

• The partnership will provide Bitpanda’s users in Germany with real-time payment solutions for incoming and outgoing transactions.

• Furthermore, this API-based account solution will offer access to German IBANs (International Bank Account Number), which will bring in confidence, speed, efficiency and an enhanced experience.

• The move comes as Bitpanda looks to build on its already underway efforts to offer customized local solutions, while strengthening its position as the leading digital-asset trading platform in Europe.

• Bitpanda offers a selection of more than 2,800 digital assets including over 350 crypto assets, as well as stocks, ETFs (Exchange-Traded Funds), precious metals, commodities and more. Its digital asset offering spans one of the most comprehensive ranges available in Europe.

• As it holds licenses in several countries, Bitpanda is known to work with local regulators, making it one of the safest and most regulated trading platforms in the industry.

• Through a blog post announcing the partnership, Bitpanda said, “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.”

• Ahead of this, Deutsche Bank serves as Bitpanda’s European Hausbank for cross-currency solutions in Austria and Spain.

 

What Did Stakeholders Say?

 

• Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda, said, “Bringing the best parts of the industry together is where we can create real value for people.  Deutsche Bank’s commitment to working with new and innovative players in the financial industry continues to make our partnership possible.”

• [Contd.] “From today, we can access a range of Deutsche Bank’s products, unlocking benefits for our team and our users.”

• Kilian Thalhammer, Global Head of Merchant Solutions, Deutsche Bank, said, “We are always looking to partner with companies who share our commitment to user safety and security.

• [Contd.] “With Bitpanda, a recognised and regulated fintech provider, we are confident to help build a secure and trusted environment for users in this innovative field of virtual asset investing.”

• [Contd.] “With our strategy to be the bank of choice for the high-potential platforms, the partnership with Bitpanda represents a key milestone as we shape this emerging ecosystem through active engagement with leading industry players.”

Do you think this move by Bitpanda will provide it with an edge over competitors and allow it to grow its customer base? Do you think the move will inspire rivals of both organizations to make similar moves?

Let us know in the comments below!