Bitcoin available at over 1,200 banks in Germany
Ich bin ein Bitcoiner – To say that traditional banks are starting to switch to cryptocurrency would be a slight exaggeration. However, week after week, there are some weak signals that suggest that the idea is gaining ground among some players in the sector. I’Germany is particularly concerned with regular announcements from well-established banks that decide to offer cryptocurrency to their customers. Today is the Deutsche WertpapierService Bank AG (dwpbank) whose main shareholder is none other than the DZ Bank who did same thing last month.
Deutsche WertpapierService Bank AG launches platform to offer crypto to its customers
There dwpbank has therefore announced via a press release published last week that it will henceforth offer a service for the purchase, sale and holding of cryptocurrency for its customers. However, this institution is not a small regional bank, it is an institution that manages more than 5 millions securities accounts for its clients. These are the German savings banks, the cooperative banks, but also private and commercial banks.
To allow this, the dwpbank will create a new online management platform, wpNex, which will serve as an interface to its customers. Thanks to this tool, cryptocurrency trading will be present “transparently into the customer’s banking experience”. Indeed, they will have their crypto balance right next to their other financial assets.
And some institutional players wasted no time communicating about it. One of dwpbank’s big customers has already announced that it has used the service to buy bitcoin.
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Institutional players are already committed to offering it to their clients in Germany
There MLP Bank AG successfully completed its first transaction on wpNex and let it be known. Paul Utzatmanager at MLP Banking, was delighted to be able to offer this to his own clients:
“In cooperation with dwpbank, we would like to offer our clients to trade cryptocurrencies in the future. In our MLP client portal, it is a logical addition to the existing wealth management offer. »
This is also the case of the DZ Bank which we talked about last month in our columns. After its institutional clients, it would like to offer the same kind of service to everyone. And with 8,500 branches across the country, that would be huge in terms of adoption. Moreover, according to the press release, the wpNex prepares the ground so that “ Germany becomes a major player in the world of cryptocurrency. »
This announcement triggered enthusiastic comments from many people in the crypto community, delighted to see such behemoths position themselves in this way. This is particularly the case of Patrick Hansendirector of strategy and European policies at Circle. For him, this is great news for theadoption ! Adoption which, moreover, is already seriously underway in the major countries of the world such as the UNITED STATES, but also theIndia, less talked about.
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