VPE Wertpapierhandelsbank is Germany's first bank to open cryptocurrency exchange for institutional investors

  • At the moment, cryptocurrency exchange services are offered “exclusively to institutional and professional clients.”
  • Barclays Bank was recently reported to be considering opening a crypt trading desk.

The bank that trades securities in Germany has partnered with a technology company, SolarisBank to offer cryptocurrency exchange services to the institutional investors. VPE operated under the Federal Financial Supervisory Authority (BaFIN). At the moment, cryptocurrency exchange services are offered “exclusively to institutional and professional clients.” However, an individual can write to the bank and request for consideration as a professional client. The banks bank Public Relation’s manager, Katharina Strenski said in a comment:

"Cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) and others have become a promising asset class in recent years. To date, trading digital tokens has been restricted to crypto exchanges and online marketplaces. We are pleased to be the first German bank to offer our customers cryptocurrency trading services."

Besides the crypto trading services, the customers will also have access to the bank’s hosted wallet. Its partner, SolarisBank focuses on developing digital banking platforms. The number of banks considering cryptocurrency trading is growing. Barclays Bank was recently reported to be considering opening a crypt trading desk. 

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