Key Points
- Bitpanda and Deutsche Bank’s new partnership offers real-time crypto payments.
- The new partnership enhances transaction efficiency and security, offering strong liquidity for Bitpanda’s users in Germany.
According to the latest reports, German traders will be able to make real-time inbound and outbound payments on Bitpanda, via a new partnership between the crypto trading platform and Deutsche Bank.
The move boosts transaction efficiency and security, offering robust liquidity for users of the platform in Germany.
Thanks to the new partnership, Bitpanda will be able to use an application programming interface (API)-based account solution to enable the crypto platform to access German International Bank Account Numbers – IBANs.
An IBAN is an internationally agreed-upon code that helps banks safely process international transfers.
Bitpanda aims to use the service to enhance the efficiency and security of fund transfers. Users of Bitpanda from the region will get a German IBAN for deposits and withdrawals, along with other benefits.
The result is the fact that all fiat deposits and withdrawals fiat requests from the crypto platform will go through Deutsche Bank for real-time settlements.
Banks’ role in crypto adoption
Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda, highlighted the importance of banks in making crypto accessible to the world.
Over the years, the crypto platform teamed up with important financial institutions such as Raiffeisen Bank International, LBBW, and N26 in order to promote crypto mass adoption.
Bitpanda’s Deputy CEO said that the last decade was all about trust, compliance, and security and all these are making the evolution possible. He highlighted that trust and integrity cannot be bought, and they managed to secure all this.
Deutsche Bank will safeguard accounts and value-enhancing payment solutions to support the crypto platform’s streamlining of treasury operations and reconciliation processes.
Enzersdorfer-Konrad said that their infrastructure allows these banks to offer customers the full capabilities of a first-class crypto product.
He said that Bitpanda and other similar platforms show maturity by doing this and Deutsche Bank can now be added as a major international bank to the list of institutions that partnered with them.
The regulatory clarity coming from MiCA (Markets in Crypto-Assets Regulation) has encouraged Europe’s largest banks to develop crypto solutions.
European banks are now seeing crypto as an asset class and they are moving into tokenization tech thanks to MiCA which will bring full clarity for banks.
