crypto strategy

Germany’s Dwpbank to Offer Crypto Training to Affiliates –

Join our Telegram channel to stay up to date on news coverage

Deutsche WertpapierService Bank (dwpbank) is set to launch a new platform that will allow its 1,200 affiliated banks to trade Bitcoin. The securities processor aims to offer its affiliates seamless integration with their current offerings, with plans to add more digital assets to the platform.

Dwpbank to launch Bitcoin service for retail clients through new wpNex platform

Dwpbank, a German bank that provides securities processing to around 1,200 banks, is launching a new platform called wpNex. This platform will provide Bitcoin (BTC) to retail customers of its subsidiaries in the second half of 2023. The new service will allow customers to manage their crypto and other accounts and will not require additional Know Your Customer procedures.

Good news for adoption and access to #BTC in Germany

To offer this service, DwpBank will partner with wallet-as-a-service provider Tangany and digital asset trading service Tradias from Bankhaus Scheich. Retail customers will not be required to hold private keys. Dwpbank CEO Heiko Beck said the bank plans to add more cryptocurrencies, digital assets and tokenized securities to the service.

According to a statement from Paul Utzat, Head of Account and Securities Processing at MLP Banking, MLP Banking, the first Dwpbank subsidiary to register on the platform, has already transacted on it. Utzat said adding the platform to its existing wealth management offering was a logical step for its MLP client portal.

Transactions can take place between crypto and euro cash accounts without a separate payment account. Germany has been identified as one of the most crypto-friendly countries, with DZ Bank announcing in February that it would add crypto to its asset management service. DZ Bank, which has 8,500 branches and is Germany’s second largest bank in terms of assets, is a central institution for a network of banking cooperatives.

Germany shows growing interest in crypto, with 44% motivated to invest

According to a report by KuCoin, the richest country in Europe is showing a growing interest in crypto. The report shares positive statistics regarding the future of crypto in Germany, with 44% of Germans expressing their motivation to invest in cryptocurrencies and be part of the “future of finance”. Moreover, more than a third (37%) of German cryptocurrency investors have been trading cryptocurrencies for more than a year. Germany has seen impressive crypto growth.

Although there is a strong demand for cryptocurrencies among the Germans, the country does not currently have any specific regulations governing the use of digital currency. While Germany was the first country to recognize that Bitcoins are “units of value” and could be classified as a “financial instrument”, according to the report, the local regulator has so far only had limited success in crypto regulation.

Nevertheless, Germany was the first country in the world to adopt a blockchain strategy. Interestingly, the country’s political stance on cryptocurrencies was discussed during the recent parliamentary elections.

The report suggests that other EU countries can look to Germany as a model, as their population is more open to long-term investment. Germany, the largest EU country with a cautious approach to financial assets, has a unique role. The report also highlights that while 69% of crypto investors are men, women make up 53% of the crypto-curious, showing their interest in the future of finance over traditional finance. Younger generations have a self-directed, equity-focused investing style and are more aware of inflation risks.

However, the regulatory environment remains uncertain, as BaFin, responsible for regulating crypto in Germany, continues to warn of risks. Despite this, they gave the green light to Neobank N26 to launch crypto trading in 2022.

No more news

Report accusing Block of misleading investors sends stocks tumbling

The UAE Central Bank rolls out its CBDC strategy

Fight Out (FGHT) – Train to Earn Crypto

Battle Token
  • CertiK audited and CoinSniper KYC verified
  • Early Stage Presale Live Now
  • Earn free crypto and reach your fitness goals
  • LBank Labs Project
  • In partnership with Transak, Block Media
  • Rewards and staking bonuses

Battle Token

Join our Telegram channel to stay up to date on news coverage

#Germanys #Dwpbank #Offer #Crypto #Training #Affiliates #InsideBitcoinscom #crypto strategy

Related Articles

Back to top button