German Banks Expand Services to Include Bitcoin Trading for Retail Customers
Great news for German retail customers interested in Bitcoin trading! Deutsche WertpapierService Bank AG (dwpbank), a securities processing giant managing over 5.3 million securities accounts, has launched a new platform called wpNex. This platform allows over 1,200 affiliated banks to offer Bitcoin trading seamlessly integrated into their customers’ online banking experience.
With wpNex, customers can see their cryptocurrency holdings alongside their traditional securities, and no pre-funding is necessary. This means that customers can easily buy and sell Bitcoin without having to transfer money to a separate account.
MLP Banking AG, a financial planning advisory corporation, is the first to take advantage of wpNex and offer crypto trading to its customers. Paul Utzat, MLP Banking’s Head of Account and Securities Settlement, confirmed that the service “will be available to all retail customers in the second half of this year.”
But that’s not all! DZ Bank, the second largest bank in Germany by asset size with around 8,500 branch offices in the country, plans to offer a Bitcoin option for its customers by the end of the year. This is a solid step for Bitcoin establishment in Germany and a promising development for the future of cryptocurrency adoption.