Deutsche Wertpapier Service Bank AG (dwpbank), a major player in securities processing in Germany with 5.3 million customer accounts, has launched wpNex, a platform for trading Bitcoin.
The platform will be available for use by 1,200 German banks, which will need to integrate it into their online banking services. Clients will be able to view their cryptocurrency accounts in the same interface as their securities accounts.
Following the platform’s launch announcement, several banks and financial institutions in Germany have announced their intention to integrate wpNex.
MLP Banking AG’s clients will be able to access Bitcoin trading in the second half of the year, while DZ Bank, Germany’s second-largest bank with over 8,500 branches, plans to offer BTC trading to its customers by year-end.
According to Patrick Hanses, Director of Strategy and Policy for Circle in Europe, the integration of wpNex is excellent news for BTC adoption in Germany.
In the future, wpNex will support alternative cryptocurrencies and other digital assets, such as tokenized securities. DZ Bank has previously partnered with Metaco to offer customers the opportunity to invest in cryptocurrencies.