Bitpanda Becomes 1st Crypto Platform To Partner With Deutsche Bank

• 1 Bitpanda has announced a partnership with Deutsche Bank to provide real-time payment solutions to its customers for incoming and outgoing transactions.
• 2 With this partnership, Bitpanda marked a significant milestone and became the world’s first crypto platform to offer real-time payment solutions for its customers.
• 3 Deutsche Bank will provide a local IBAN for deposits and withdrawals for German Bitpanda users.

Bitpanda is one of Europe’s leading crypto brokers and is based in Vienna, Austria. It allows trading in more than 2,800 digital assets, including over 350 cryptocurrencies, ETFs, precious metals, commodities, and stocks. It offers the most comprehensive range of digital assets available for trading in Europe.

It has a user base of over 4 million and a lot of institutional partners. The company has gained licenses in multiple countries and is known for its compatibility with local regulators to keep assets safe and secure.

To expand its user base and improve its existing users’ experience, it has collaborated with Deutsche Bank, a leading bank in Germany with a global network and strong roots in Europe.

Bitpanda took to X to share its tremendous milestone with its huge base of followers.

It is first of the kind partnership where a large and renowned international traditional bank has partnered with a crypto platform. It is a significant step towards an integrated future for the traditional finance and technology industries.

The partnership is not only a result of the sustainable level of security that operations of Bitpanda but the partnership is also setting the standard for the future towards the integration of cryptocurrencies and traditional finance.

Strategy behind the Partnership

Bitpanda’s collaboration with traditional financial service providers is geared towards achieving its strategic goal for the calendar year 2024 for Unicorn. The company believes that this collaboration will shape the future of the financial services industry.

Deputy CEO of Bitpanda, Lukas Enzersdorfer-Konrad expressed his positive views and ideology behind the partnership, stating, “Bringing the best parts of the industry together is where we can create real value for people. Deutsche Bank’s commitment to working with new and innovative players in the financial industry continues to make our partnership possible. From today, we can access a range of Deutsche Bank’s products, unlocking benefits for our team and our users.”

The Global Head of Merchant Solutions at Deutsche Bank, Kilian Thalhammer, also supported the partnership, stating they are always keen and looking for partnerships with companies that have a similar level of commitment towards safety and security. 

He is confident about the partnership with Bitpanda to build a secure and trusted payment ecosystem for users in the innovative field of virtual asset investing. 

It is a milestone towards shaping the emerging ecosystem through active engagement with leading industry players.

Shareholders’ Reaction to the Partnership

Deutsche Bank is a public limited bank and its shares are listed on New York Stock Exchange (NYSE). The news about the partnership was probably released after market hours on June 3.

The market experienced a price decline of 2.64% at press time, in the closed market session, which probably reflects the negative response of Deutsche Bank’s shareholders. A probable reason for the decline could be that the shareholders of Deutsche Bank are not strong believers of cryptocurrencies.

Despite the tremendous growth of cryptocurrencies, there is an investor base in the traditional market that is not a strong believer in crypto.

Disclaimer

The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Nancy J. Allen

Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.