Crypto broker Bitpanda has partnered with Deutsche Bank to manage fiat deposits and withdrawals for its German users. This is Bitpanda’s second significant collaboration in Germany this year, following an agreement with Landesbank Baden-Württemberg (LBBW) to provide crypto custody services.
New Services for Bitpanda Users
The partnership with Deutsche Bank allows Bitpanda users to obtain local International Bank Account Numbers (IBANs), facilitating seamless conversion between crypto and fiat currencies. The bank will handle incoming and outgoing transactions on the Bitpanda platform, enhancing the overall user experience.
Lukas Enzersdorfer-Konrad, Bitpanda’s deputy CEO, commented on the partnership, stating, “Bringing the best parts of the industry together is where we can create real value for people … From today, we can access a range of Deutsche Bank’s products, unlocking benefits for our team and our users.”
Previous Collaborations
Earlier this year, Bitpanda joined forces with LBBW, Germany’s largest state-backed lender, to offer crypto custody services. This service is set to launch in the second half of this year, marking another step forward in Bitpanda’s expansion in the German market.
Also Read: LBBW and Bitpanda Spearhead Crypto Custody Services for German Corporates
Deutsche Bank’s Crypto Initiatives
Deutsche Bank has been actively involved in the crypto sector. Last year, the bank added crypto custody and tokenization services through a partnership with Taurus. Taurus, also backed by Deutsche Bank, provides tokenized SME loans via the lending platform Teylor, showcasing the bank’s commitment to integrating digital assets into its offerings.
Bitpanda’s partnerships with major German banks like Deutsche Bank and LBBW underline its commitment to expanding its services and enhancing its platform’s capabilities. These collaborations aim to provide users with more comprehensive and integrated financial services, bridging the gap between traditional banking and the crypto world.
