Germany’s VPE Bank To Offer Crypto Trading Facility To Investors

Updated On Apr 27, 2018 by Cameron Bishop

vPE WertpapierhandelsBank AGOne of the biggest drawbacks faced by cryptocurrency market is the lack of necessary infrastructure for institutional investors to acquire a stake in promising projects. Due to this issue, even cryptocurrencies representing promising projects take time to lift off. This problem may partially get resolved in Europe, as the country’s VPE bank has become the first one to offer cryptocurrency trading facility to institutional traders. For this purpose, VPE bank has entered into a partnership with SolarisBank, a FinTech firm.

The BaFin-regulated WertpapierhandelsBank AG (VPE), which is also a reputed securities broker in Germany, will offer cryptocurrencies to institutional investors as a part of its expansion plans. VPE is the first regulated bank to offer cryptocurrency related brokerage services in Germany. The bank will ensure that its clients are KYC and AML compliant.

To offer cryptocurrencies for trading, VPE has partnered with SolarisBank. The Berline-based Fintech firm will support automated trading, while providing access to wallets hosted by the bank.

Katharina Strenski, Public Relations Manager at VPE said

‎”Until now, institutional investors have faced high entry barriers to crypto ‎trading. Our cryptocurrency trading services offer a much more convenient ‎alternative.”

VPE, which was established in 1989, initially focused on providing OTC and exchange-based trading facilities for private investors, institutional traders, and financial corporations.

Strenski further stated

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

Notably, Liechtenstein-based Bank Frick was the first to offer cryptocurrency trading in Europe. Germany has so far stayed neutral as far as cryptocurrency trading is concerned, with an occasional hostile message from their lawmakers.

Cameron works tirelessly behind the scenes ensuring his many US news stories are factual, informative and brought to you in a timely fashion before most other media outlets have them. He is an investigative journalist at heart who also has a fond interest in the money and business markets too.

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