German banks will allow customers to trade Bitcoin

Deutsche WertpapierService Bank AG (dwpbank), the German bank that regulates 1,200 German banks and institutions launches the "wpNex" online platform for digital asset transactions. The company has a total of 526.8 million euros in assets according to 2018 information

Dr. Heiko Beck, CEO of dwpbank, said:
"Regardless of how individual cryptocurrencies develop: digitized values will become increasingly important in the future. That's why we're expanding our services in this area and more closely targeting our portfolio to the future opportunities that are available here."

The first financial corporation to conduct a bitcoin-based transaction was MLP Banking AG.
MLP Banking AG is a corporation that provides services to banks and other financial institutions.It manages nearly 57 billion euros in assets.

Dr. Paul Utzat, head of securities accounting and processing at MLP Banking AG, said:
"In cooperation with dwpbank, we would like to offer our customers cryptocurrency trading in the future. In our MLP customer portal, this is a logical addition to our existing wealth management offering."

German banks will be able to provide these services to their customers in the second half of 2023.