The new service will feature crypto accounts alongside bank customers’ other accounts and will not require additional Know Your Customer procedures, according to local media reports.
Wallet-as-a-service provider Tangany and Bankhaus Scheich’s tradias digital asset trading service will also participate in the new offering. Retail customers will not hold private keys. Dwpbank CEO Heiko Beckthe bank planned to add other cryptocurrencies, digital assets and tokenized securities to the service in the future.
MLB Banking was the first dwpbank affiliate to sign on to the platform and has already performed a transaction on it. MLP Banking account and securities processing head Paul Utzat“In our MLP customer portal, it is a logical addition to the existing wealth management offering.” Crypto accounts are linked to euro cash accounts, so transactions can take place without going through a separate payments account.
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