Over 1,200 German banks to offer Bitcoin and Ethereum(ETH) to customers through new partnership

• Leading German-based bank looks to integrate crypto into its banking system, to allow for customers to trade Bitcoin while carrying out online banking activities. 
• The bank’s CEO stressed that Bitcoin is only the beginning, hinting that more digital currencies and tokenized assets will be added to its platform in the near future. 

As the tides change, Germany is moving towards crypto. The country is increasing its crypto adoption in the industry with a move that presents massive benefits. The move is poised to provide more opportunities for German banks and cryptocurrency investors.

According to reports, Germany’s leading investment platform says customers can access Bitcoin and other assets in the future. Deutsche WertpapierService Bank AG (dwpbank) will allow affiliate banks to offer Bitcoin and other assets to its customers. This will be done using the new wpNEX platform. The bank made the announcement in a recent press conference, on the 23rd of March.

The move holds a lot of bullish possibilities for Bitcoin and the German economy. This is because Deutsche WertpapierService Bank AG (dwpbank) stands out as the leader among 1,200 German banks in the nation.
The bank offers investment services to different banks, so as to aid in the provision of securities services to customers.

CEO of dwpbank hints at future plans for the bank and its affiliation with crypto

MLP Banking AG is the start of the crypto offering. That’s what Dr. Paul Utzat, Head of Account and Securities Processing:

Speaking about the services from dwpbank, Dr. Paul Utzat, Head of Account and Securities Processing remarked at MLP Banking AG asserted that its bank will be at the forefront of crypto offerings.

“In cooperation with dwpbank, we would like to offer our customers trading in cryptocurrencies in the future. In our MLP client portal, it is a logical addition to the existing wealth management offering.” Utzat said. He further noted that the service is scheduled to be made accessible to retail customers in the second half of 2023.

Dr. Heiko Beck, the CEO of dwpbank asserted that Bitcoin is just the beginning, hinting that there is more to come, regarding the bank’s involvement with digital currencies and tokenized assets.

Users can expect to carry out regular banking activities while trading crypto as the feature will be integrated into their online banking platform. Just beside their securities account, bank customers can see their crypto account just right beside. Traditional crypto verification processes will no longer be necessary for customers looking to open an account.

Banks are likely to take the new development as a cue to prioritize their customers. Particularly, their demand for digital assets like Bitcoin, as the wpNex platform sets the stage for the future of crypto adoption in the country.

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