Over 1,200 German banks can now offer Bitcoin trading to their retail customers

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Deutsche WertpapierService Bank AG (dwpbank), a German securities processing elephantine that manages complete 5.3 cardinal securities accounts, has announced nan motorboat of its caller platform, wpNex, that enables complete 1,200 affiliated banks to connection Bitcoin (BTC) trading to its unit customers.

According to nan press release published connected March 22, via nan wpNex platform, crypto trading tin beryllium seamlessly integrated into nan customer’s online banking experience. Customers tin spot their cryptocurrency holdings alongside their accepted securities, pinch nary pre-funding necessary, Btc-echo.de reported.

MLP Banking AG, DZ Bank first successful line

Financial readying advisory corp MLP Banking AG has taken advantage of nan opportunity to go nan first to connection crypto trading to its customers. Paul Utzat, MLP Banking’s Head of Account and Securities Settlement, said that nan work “will beryllium disposable to each unit customers successful nan 2nd half of this year.”

Furthermore, DZ Bank plans to connection a Bitcoin action for its customers by nan extremity of nan year, which tin beryllium seen arsenic a coagulated measurement for Bitcoin constitution successful Germany arsenic this institution is nan 2nd largest slope successful Germany by plus size pinch astir 8,500 branch offices successful nan country.

A awesome subordinate successful nan world of crypto?

In a tweet connected March 24, Patrick Hansen, EU Strategy and Policy Director astatine Circle, a crypto-focused institution down nan USDC stablecoin, noted that nan move is ‘great news for Bitcoin’s adoption’.

Great news for #BTC take and entree successful 🇩🇪

Through its caller wpNex platform, nan dwpbank will let up to 1200 German banks to connection #Bitcoin trading – and soon much crypto-assets.

The crypto holdings will beryllium integrated into nan customers's online banking securities account.

— Patrick Hansen (@paddi_hansen) March 24, 2023

As per nan announcement, pinch nan wpNex platform, dwpbank ‘is mounting nan shape for Germany to go a awesome subordinate successful nan world of crypto’. The institution has besides clarified that different integer assets for illustration tokenized securities will beryllium added successful nan adjacent future.

Dwpbank’s move will perchance put unit connected different German banks and financial institutions to meet nan increasing request for convenient entree to crypto trading and investing.