Securities Trading Bank VPE launched its first cryptocurrency trading service for institutional investors in Germany, expanding its brokerage offer.
VPE has launched cryptocurrency trading services for institutional investors. VPE offers first-class technology and has a license from the German financial authority BaFin to provide customers with secure and regulated cryptocurrency trading services.
"Cryptocurrencies like Bitcoin, Litecoin, Ethereum and others have become a promising asset class in recent years, so far, the token trade was limited to crypto-exchanges and online markets.We are pleased to be the first German bank to to offer our clients cryptocurrency services, "said Katharina Strenski, VPE's public relations manager.
As a securities trading bank, EVP has already found impressive in terms of trade and access to networks and technical requirements for processing individual transactions. VPE also meets all KYC (Know Your Customer, KYC) and AML (Anti Money Laundering, and Money Laundering) requirements.
With an automated crypto-currency trading capacity, the product was launched in collaboration with Solaris Bank, the first banking platform with a banking license, with the support of leading banking experts and legal fields related to cryptocurrency.
The virtual trading accounts of VPE are deposited as collateral by Solaris Bank. Customers are also accessible to a virtual currency portfolio hosted by VPE. This will make trading quick and easy, faster security standards.
"Until now, institutional investors have had to face barriers to entry for cryptocurrency trading, and our cryptocurrency services offer a much more practical alternative," said Strenski.
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