Bitpanda strengthens deal with Deutsche Bank for German real-time payments

Austrian crypto broker Bitpanda has expanded its partnership with Deutsche Bank to implement real-time payment solutions for user transactions in Germany.

Through an API integration, Bitpanda will gain access to German IBAN accounts, streamlining the deposit and withdrawal process for German users.

Bitpanda German IBAN integration

International Bank Account Numbers (IBANs) are internationally agreed codes that identify bank accounts across national borders. They provide a standardized way to identify accounts, enabling easy cross-border transactions and payments.

By integrating German IBANs, Bitpanda seeks to improve the reliability and speed of deposit and withdrawal transactions for its users in this region.

According to the official press release, this move represents another step in Bitpanda’s strategy to adapt its offerings to local markets and strengthen its position as a leading digital asset trading platform in Europe.

Deutsche Bank is already Bitpanda’s primary bank for cross-currency transactions in Austria and Spain. In a statement, Deutsche Bank’s global head of business solutions, Kilian Thalhammer, said:

“We are always looking to partner with companies that share our commitment to user safety and security. With our strategy to be the bank of choice for high-potential platforms, the partnership with Bitpanda represents a key milestone in as we shape this emerging ecosystem through active engagement with key industry players.”

Over the past few years, Deutsche Bank has steadily expanded its involvement in the cryptocurrency sector. As part of its strategy to facilitate client access to crypto markets and assets, the investment banking platform submitted an application for a digital asset custody license to the German financial regulator in June 2023.

Later that year, Deutsche Bank partnered with Swiss cryptocurrency infrastructure firm Taurus to implement cryptocurrency custody solutions and tokenized product offerings for its client base.

Collaborations with traditional players

In addition to traditional players such as Deutsche Bank, crypto-native firm Bitpanda has also been actively collaborating with major financial institutions for several years.

In April, Germany’s largest federal bank, Landesbank Baden-Württemberg (LBBW), used Bitpanda to offer digital asset custody services leveraging the company’s advanced “Investment as a Service” (IaaS) infrastructure. regulated platform of multi-asset brokers.

Last year, the Austrian cooperative banking company, Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien) partnered with Bitpanda to launch its crypto investment services with the help of software-as-a-service offering ( SaaS) of the latter.

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