Dwpbank, which provides securities processing for about 1,200 banks in Germany, is launching the wpNex platform for Bitcoin trading.
German securities processor Deutsche WertpapierService Bank AG (Dwpbank), which manages 5.3 million customer accounts at about 1,200 banks in Germany, launched the wpNex platform for BTC trading. All customers of Dwpbank will be able to seamlessly integrate the new service into their existing online banking platforms for their clients.
The platform will become fully available to users in the second half of 2023. In particular, crypto accounts will be accessed directly in customers’ accounts without additional KYC. Cryptocurrency addresses will be linked to euro accounts, so users will be able to make transactions without using a separate payment account.
Tangany, a provider of SaaS solutions for cryptocurrency wallets, and Tradias Bankhaus Scheich, a digital asset trading service, participated in the infrastructure development. MLP Banking AG has already successfully tested Dwpbank’s new service, making the first transaction. They report that in the future, clients of wpNex will have access to other cryptocurrencies, digital assets, and tokenized securities.
At the end of February 2023, representatives of DZ Bank, the second-largest bank in Germany in asset volume and the central institution of the banking cooperative network, which has 8,500 branches, announced the joint launch with Metaco Harmonize of an institutional service for digital asset custody. These developments underscore that Germany has been named one of the most crypto-friendly countries in the world for a reason.
