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Deutsche Bank DBKGn.DE will work with Bitpanda to process customer deposits and withdrawals for stanley cup the Austrian crypto broker, the companies told Reuters.The crypto industry has previously struggled to find banking partners, particularly after the 2023 collapse of Silvergate Capital Corp, Signature Bank and Silicon Valley Bank, which had a high concentration of crypto-related clients.But in the latest sign of the crypto world moving closer to mainstream finance, Deutsche will provide Bitpanda users in Germany with local bank account numbers.This means that deposits or withdrawals of fiat currencies from Bitpanda will go through Germanys largest bank. Some banks do not allow customers to transfer funds to crypto exchanges.Vienna-based Bitpanda, which was founded in 2014, says it has more than 4 million users and offers products including fractional stocks, cryptocurrencies and precious metals.Regulators have raised concerns about crypto market upheaval spilling into mainstream finance as ties between the two deepen, although analysts say connectivity between them remains limited.Deutsches global head of cash management Ole Matthiessen said it has taken a very cautious approach. We only work with very selective partners and clients who stanley cup demonstrate strong compliance processes, operate in a regulated environment and meet our heightened expectations from a risk perspective, Matt stanley cup hiessen said in emailed comments.Deutsche does not get involved in the transfer of any crypto through |
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