Bitpanda, an Austrian crypto broker, has teamed up with Deutsche Bank to handle customer fiat deposits and withdrawals. This collaboration aims to address the difficulties faced by crypto platforms in finding banking partners since the collapse of major crypto-friendly banks in 2023. In Germany, Deutsche Bank will provide Bitpanda users with local bank account numbers, thereby facilitating transactions involving fiat currency. The bank’s focus lies in partnering with compliant and regulated entities, while refraining from direct involvement in crypto transfers. With its user base of over four million, Bitpanda offers a wide range of financial products. A spokesperson from Deutsche Bank highlighted that the bank has a similar partnership with Hong Kong-based crypto exchange Hashkey. Bitpanda expressed its enthusiasm, stating, “This marks the first instance where a renowned and esteemed international bank has collaborated with a crypto company to achieve this level of integration. This represents a significant milestone for the entire industry.”
