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Deutsche Bank (DBK) will process Fiat-Crypto transactions for Bitpanda in Germany
Cryptocurrency broker Bitpanda has appointed Deutsche Bank (DBK) to process fiat deposits and withdrawals for its users in Germany, according to a announcement Tuesday.
Bitpanda users can now access German International Bank Account Numbers (IBANs), effectively converting cryptocurrencies to fiat and vice versa. Deutsche Bank will also provide support for incoming and outgoing transactions on Bitpanda.
“By bringing together the best parts of the industry we can create real value for people… From today we can access a range of Deutsche Bank products, unlocking benefits for our team and our users,” said Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda, in the statement.
In April, the Austrian cryptocurrency firm partnered with Germany’s largest state-backed lender, Landesbank Baden-Württemberg (LBBW), to offer cryptocurrency custody services in the country. The service will be active in the second half of this year.
Deutsche Bank is no stranger to cryptocurrencies and tokenization. The German banking giant added custody and tokenization of cryptocurrencies to his repertoire last year through a collaboration with Taurus.