Crypto Analyzer

Deutsche Bank Collaborates with Bitpanda to Process Fiat-Crypto Transactions in Germany

Deutsche Bank (DBK) has recently entered into a partnership with crypto broker Bitpanda to facilitate fiat deposits and withdrawals for Bitpanda users in Germany, according to an official announcement made on Tuesday.

Through this collaboration, Bitpanda users will now have access to German international bank account numbers (IBANs), enabling the seamless conversion of crypto to fiat and vice versa. Moreover, Deutsche Bank will offer support for both inbound and outbound transactions on the Bitpanda platform.

Lukas Enzersdorfer-Konrad, the deputy CEO of Bitpanda, expressed his enthusiasm for this partnership by 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.”

Notably, this collaboration comes on the heels of Bitpanda’s previous partnership with Landesbank Baden-Württemberg (LBBW), Germany’s largest state-backed lender, to offer crypto custody services in the country. The crypto custody services are set to be launched in the second half of this year.

Deutsche Bank has been actively embracing the world of cryptocurrency and tokenization. In the previous year, the German banking giant expanded its services to include crypto custody and tokenization through a partnership with Taurus.

This strategic collaboration between Deutsche Bank and Bitpanda signals a growing acceptance and integration of cryptocurrencies into traditional banking systems, offering users more avenues to seamlessly navigate between the fiat and crypto worlds.