Deutsche Bank and Bitpanda Launch Real-Time Payments for Digital Asset Trading

Deutsche Bank and cryptocurrency broker Bitpanda have formed an expanded partnership in which the bank will provide real-time payment solutions for the incoming and outgoing transactions of Bitpanda customers in Germany.

With this partnership, Bitpanda will have access to German International Bank Account Numbers (IBANs), enabling it to provide greater confidence, speed and efficiency to users of its digital-asset trading platform, the companies said in a Tuesday (June 4) press release.

“Deutsche Bank’s commitment to working with new and innovative players in the financial industry continues to make our partnership possible,” Lukas Enzersdorfer-Konrad, deputy CEO of Bitpanda, said in the release. “From today, we can access a range of Deutsche Bank’s products, unlocking benefits for our team and our users.”

Bitpanda’s regulated multi-asset broker platform offers more than 2,800 virtual assets and indices as well as stocks, exchange-traded funds (ETFs) and commodities to retail investors, according to the release.

The company’s expanded partnership with Deutsche Bank build upon an existing one in which the bank supports Bitpanda’s operational needs as its European Hausbank for cross-currency solutions in Austria and Spain, the release said.

For Deutsche Bank, this move is part of its strategy to be “the bank of choice for the high-potential platforms,” Kilian Thalhammer, global head of merchant solutions at Deutsche Bank, said in the release.

“We are always looking to partner with companies who share our commitment to user safety and security,” Thalhammer said. “With Bitpanda, a recognized and regulated FinTech provider, we are confident to help build a secure and trusted environment for users in this innovative field of virtual asset investing.”

Embedded finance is transforming verticals as far-flung as retail and logistics, Deutsche Bank Global Head of Embedded Finance Matthaeus Sielecki told PYMNTS in an interview posted in April.

“It’s all about how you can enhance customer retention and the customer experience by offering banking like services at the point where the customer needs to decide to purchase a product or pay for a service,” Sielecki said.

In a collaboration announced in September 2023, Deutsche Bank and digital asset infrastructure provider Taurus entered into a global partnership.

That partnership aims to support Deutsche Bank’s digital asset services by integrating Taurus’ technology for digital asset custody and tokenization services.