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Bitpanda Teams Up with Deutsche Bank for Real-Time Payment Solutions
Austrian crypto exchange Bitpanda has expanded its partnership with Germany’s largest financial lender, Deutsche Bank, to deliver real-time banking solutions for transactions in Germany. This API-based account solution will grant Bitpanda access to German IBANs, enhancing their service offerings for users in the region.
Heinrich Frömsdorf, media spokesperson for Deutsche Bank, emphasized the bank’s objective to achieve “market penetration in completely new areas” through this collaboration. However, Deutsche Bank maintains a cautious approach and prefers not to rush into expanding its list of partnerships within the crypto industry.
“Deutsche Bank would not offer our services to every company in the crypto segment. It must be a clearly licensed and regulated company that also pursues the highest compliance standards internally.” – Heinrich Frömsdorf
Deutsche Bank already supports Bitpanda’s operational needs as its European Hausbank for cross-currency solutions in Austria and Spain. Bitpanda CEO Lukas Enzersdorfer-Konrad commented on Deutsche Bank’s willingness to collaborate with new players in the financial industry, which continues to strengthen their partnership.
Bitpanda entered the German market in 2022 after receiving a license from the Federal Financial Supervisory Authority (BaFin), enabling the crypto exchange to offer its services in Germany.
In mid-April, it was reported that Germany’s largest state-backed lender, Landesbank Baden-Württemberg (LBBW), with over $350 billion in assets under management, plans to launch crypto custody services for institutional and corporate clients in H2 2024 in partnership with Bitpanda.
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