Deutsche Bank has expanded its partnership with Bitpanda to provide the Austrian crypto trading platform real-time payment services for transactions in Germany.
When customers deposit or withdraw fiat currency from Bitpanda, the transactions will go through Deutsche Bank.
Under the partnership, Deutsche Bank will provide the FinTech with access to local German IBANs (International Bank Account Numbers) via API-based technology.
Bitpanda, which offers access to a cryptocurrency exchange, commodities and securities trading, and ETFs via a mobile app, said this will increase the speed of payments and improve the user experience.
Under the current partnership, Deutsche Bank provides Bitpanda services for cross-currency solutions in Austria and Spain.
“With Bitpanda, a recognised and regulated fintech provider, we are confident to help build a secure and trusted environment for users in this innovative field of virtual asset investing,” said Kilian Thalhammer, global head of merchant solutions at Deutsche Bank. “With our strategy to be the bank of choice for the high-potential platforms, the partnership with Bitpanda represents a key milestone as we shape this emerging ecosystem through active engagement with leading industry players.”
Last month, Bitpanda said it had invested $10 million to launch a new division dedicated to developing AI. The new division will be a “dynamic hub” for AI-driven products and customised investing features.
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