Deutsche Bank and Bitpanda Collaborate Amid Crypto Banking Challenges

Deutsche Bank is collaborating with Bitpanda to manage customer fiat deposits and withdrawals for the Austrian crypto broker. This collaboration addresses the challenges crypto platforms have faced in securing banking partners after the 2023 collapse of key crypto-friendly banks. Deutsche Bank will issue local bank account numbers to Bitpanda users in Germany, facilitating fiat currency transactions. The bank focuses on working with compliant and regulated partners, while excluding direct involvement in crypto transfers. Bitpanda, with over four million users, offers a range of financial products. A Deutsche spokesperson noted that the bank has a similar partnership with Hong Kong-based crypto exchange Hashkey. “This is the first time such a well-known and respected international bank has partnered with a crypto company to deliver this integration. This is a huge step for the whole industry,” Bitpanda stated.

Source: Bitcoin

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