Deutsche Bank has partnered with Bitpanda, a crypto trading platform, to enable real-time inbound and outbound payments for German crypto traders. This collaboration aims to improve transaction efficiency and security, providing enhanced liquidity for Bitpanda users in Germany. Through the partnership, Bitpanda will utilize an API-based account solution provided by Deutsche Bank, granting access to German International Bank Account Numbers (IBANs). IBANs are globally recognized codes that facilitate secure processing of international transfers. By leveraging this service, Bitpanda aims to enhance the efficiency and security of fund transfers, offering German IBANs to its users for deposits and withdrawals. Consequently, all fiat deposits or withdrawal requests on Bitpanda will undergo real-time settlements via Deutsche Bank.
Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda, emphasized the significance of banks in making cryptocurrencies accessible to the general public. Bitpanda has collaborated with major financial institutions such as Raiffeisen Bank International, LBBW, and N26 to promote the adoption of cryptocurrencies. Deutsche Bank will provide safeguarding accounts and value-enhancing payment solutions, supporting Bitpanda in streamlining its treasury operations and reconciliation processes, ultimately leading to improved liquidity across its core markets.
Enzersdorfer-Konrad believes that crypto-bank partnerships ultimately benefit the end-users. The regulatory clarity provided by the Markets in Crypto-Assets Regulation (MiCA) framework has encouraged Europe’s largest banks to develop crypto solutions. In a previous interview, Enzersdorfer-Konrad highlighted that banks have recognized their lack of technical expertise and are relying on crypto service providers like Bitpanda to bridge this gap. The combination of regulatory clarity and technical knowledge from service providers enables European banks to confidently offer crypto services.