German Securities Processing Giant dwpbank Launches wpNex Platform Allowing Over 1,200 Banks to Offer Bitcoin Transactions to Retail Customers

German Banks to Offer Bitcoin Trading, Starting with MLP Banking AG, Setting a Solid Step towards Establishing Bitcoin in the Country

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Deutsche WertpapierService Bank AG (dwpbank), a German securities processing giant that oversees over 5.3 million securities accounts, announced the launch of wpNex, a platform that allows more than 1,200 banks connected to its network to offer Bitcoin (BTC) transactions to its retail customers.

Through the new platform, users will be able to seamlessly exchange Bitcoin as they engage in online banking transactions.

A report from Btc-echo.de also states that customers can value their cryptocurrencies alongside traditional securities through the recently launched platform without necessarily funding their accounts.

Financial planning advisory firm, MLP Banking AG, has seized the opportunity to become the first to offer cryptocurrency trading to its clients.

Paul Utzat, Head of Account and Securities Settlement at MLP Banking, said the service “will be available to all retail clients in the second half of this year”.

A Move that establishes Bitcoin in Germany

In addition, DZ Bank plans to offer the Bitcoin option to its customers by the end of the year, which can be seen as a solid step towards establishing Bitcoin in Germany, as this institution is the second largest bank in Germany in terms of asset size, with around 8,500 branches in the country.

Patrick Hansen, EU Strategy and Policy Director at Circle, commented on this development in a series of tweets, stating that the move is great news for Bitcoin (BTC) adoption.

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