Several moves in Germany spell good news for bitcoin adoption and investment.
Via a new platform called wpNex offered by securities processing giant Deutsche WertpapierService Bank AG (dwpbank), some 1,200 German banks will be able to offer bitcoin to retail customers.
Meanwhile, DZ Bank, Germany’s second largest, also made news with an announcement that it intends to provide a Bitcoin investing option for its clients by the end of the year. The bank has about 8,500 branch offices across the country.
The news underscores a trend of greater crypto regulatory clarity in Europe and Asia than in the U.S.
That uncertainty, including what many see as haphazard “regulation by enforcement” actions by the SEC, and increasingly negative Biden administration assessments of the sector, is driving crypto companies to other regions.
Significant German Integration
The scale of the Deutsche WertpapierService Bank’s offering covers 5.3 million securities accounts, according to a 22 March press release, Finbold.com noted.
Customers will have access to bitcoin trading through the wpNex platform, where they can view their crypto holdings along with their securities holdings.