Deutsche WertpapierService Bank AG has launched the wpNex platform that allows affiliated banks to offer bitcoin (BTC) trading to retail customers.
Deutsche WertpapierService Bank AG enables bitcoin trading for banks
Deutsche WertpapierService Bank AG (dwpbank), a key German stock market player that controls more than 5.3 million securities accounts, launched wpNex on March 22. This new platform allows more than 1,200 affiliated banks to enable bitcoin (BTC) trading for their retail customers.
according to a report of the bank, clients’ online banking services can be easily integrated with cryptocurrency trading through the wpNex platform. Clients can view their bitcoin holdings alongside traditional securities without pre-funding.
MLP Banking AG will offer cryptocurrency trading services to retail clients in the second half of 2023
MLP Banking AG, a financial planning advisory firm, has seized the opportunity to become the first to offer crypto trading to its clients.
According paul utzataccount manager and securities settlement at MLP Banking, all retail clients will have access to the service in the second half of this year.
Additionally, DZ Bank aims to provide a bitcoin option for its customers by the end of the year. It is an essential step to establish bitcoin in Germany. This organization is the second largest bank in Germany by asset size and has approximately 8,500 branches throughout the country. Germany was ranked as one of the most favorable countries in the world for cryptocurrencies.
Nuri, a German cryptocurrency bank, ceased operations in November due to the stress of the cryptocurrency bear market. He had 500,000 customers who were asked to withdraw their funds.
On March 24, as instability spread among European banks, Deutsche Bank shares fell on the side of traditional finance. Deutsche Bank’s asset management arm DWS was reportedly in talks with Tradias about investing in the service.
Dwpbank’s wpNex platform, which enables easy access to Bitcoin and other cryptocurrencies for retail consumers, is anticipated to revolutionize the German banking industry.
The network would allow seamless transactions by connecting cryptocurrency accounts to euro cash accounts, making it a favorite choice for many users. Unsurprisingly, more and more traditional financial institutions are looking into cryptocurrencies due to the increasing demand for cryptocurrency services.
