NEWS
German crypto traders can now enjoy real-time inbound and outbound payments on Bitpanda, thanks to a new partnership between the crypto trading platform and Deutsche Bank.
This collaboration enhances transaction efficiency and security, providing robust liquidity for Bitpanda’s users in Germany.
Through the partnership, Bitpanda will leverage an application programming interface (API)-based account solution, enabling the platform to access German International Bank Account Numbers (IBANs).
IBANs are internationally standardized codes that facilitate safe international bank transfers. Bitpanda aims to use this service to improve the efficiency and security of fund transfers. Users in the region will receive a German IBAN for deposits and withdrawals, among other benefits.
As a result, all fiat deposits and withdrawal requests on Bitpanda will be processed through Deutsche Bank for real-time settlements.
Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda, emphasized the crucial role of banks in making crypto accessible to the masses.
Over the years
Bitpanda has collaborated with major financial institutions, including Raiffeisen Bank International, LBBW, and N26, to promote cryptocurrency adoption.
He stated, “We have made a point over the last decade of focusing on trust, compliance, and security, and that’s what makes these leaps forward possible. You can’t buy trust or integrity; you have to earn it, and that’s what we’ve done.”
Deutsche Bank will provide safeguarding accounts and value-enhancing payment solutions to support Bitpanda’s streamlining of treasury operations and reconciliation processes, ultimately leading to more robust liquidity across Bitpanda’s core markets.
Enzersdorfer-Konrad believes that partnerships between crypto platforms and banks ultimately benefit the end-user.
“Our infrastructure enables these banks to offer their customers the full capabilities of a first-class crypto product. It is a sign of the maturity of players like Bitpanda that we can now add Deutsche Bank as a major international bank to the list of institutions that partner with us.”
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