The Partnership Between Deutsche Bank and Bitpanda

Forbes

Hey folks.

Thanks to a recent partnership Between Bitpanda, the crypto trading platform and Deutsche Bank, Crypto traders in Germany will now be able to make real-time inbound and outbound payments on Bitpanda.

The partnership improves transaction security and efficiency while giving Bitpanda users in Germany access to strong liquidity.

Bitpanda's application programming interface (API)-based account solution, which gives the cryptocurrency trading platform access to German International Bank Account Numbers (IBANs), will be made possible by the relationship with Deutsche Bank.

Talking of IBANs, they are globally agreed upon codes that helps banks securely process cross border transfers. Aim of Bitpanda is to avail this service to improve the security and efficiency of transfer of funds.

Users of Bitpanda in the area will get a German IBAN for deposits and withdrawals, among other advantages.

Resultantly, for real-time settlements, all fiat deposits or withdrawals fiat requests from Bitpanda will go through Deutsche Bank.

To help Bitpanda streamline its treasury operations and reconciliation procedures, Deutsche Bank will offer value-adding payment options and account protection. In the end, this should result in more stable liquidity throughout Bitpanda's main marketplaces.

The framework of MiCA, Markets in Crypto-Assets Regulation provided the regulatory clarity which has encouraged the largest banks of Europe to develop crypto solutions.

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