German Bank VPE Brings Cryptocurrency Trading to Institutional Investors
- Clients will receive a custodian service with access to an individual cryptocurrency wallet hosted by VPE.
German bank VPE has partnered with Berlin-based fintech company solarisBank to facilitate cryptocurrency trading for institutional investors, like hedge and pension funds.
The Securities trading provider is regulated by Germany’s financial watchdog, BaFin, and will become the first to offer such services in the country.
VPE said the ecosystem wasn’t prepared to handle large traders a couple years ago, and their customers weren’t asking for such digital assets. That all changed in 2017 when the crypto-market went mainstream as an asset class.
Unlike established financial markets, cryptocurrency trading is dominated by individual investors, which is evident by almost every metric, including the sharp price swings.
Institutional investors and trading firms were eager to actively trade these instruments following the launch of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that futures contracts by two of the leading futures exchanges in the US. Even though the Cboe and CME futures have allowed digital currencies to step into the mainstream financial system, the big players were challenged by lack of institutional-grade technology to support them.
The statement also revealed that solarisBank will offer a custodian service while customers will also receive access to an individual cryptocurrency wallet hosted by VPE. This will deliver stringent financial controls as well as secure storage, the company said.
Commenting on this, Katharina Strenski, Public Relations Manager at VPE, said: "Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw 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."
"Until now, institutional investors have faced high entry barriers to crypto trading. Our cryptocurrency trading services offer a much more convenient alternative," Strenski added.
German bank VPE has partnered with Berlin-based fintech company solarisBank to facilitate cryptocurrency trading for institutional investors, like hedge and pension funds.
The Securities trading provider is regulated by Germany’s financial watchdog, BaFin, and will become the first to offer such services in the country.
VPE said the ecosystem wasn’t prepared to handle large traders a couple years ago, and their customers weren’t asking for such digital assets. That all changed in 2017 when the crypto-market went mainstream as an asset class.
Unlike established financial markets, cryptocurrency trading is dominated by individual investors, which is evident by almost every metric, including the sharp price swings.
Institutional investors and trading firms were eager to actively trade these instruments following the launch of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that futures contracts by two of the leading futures exchanges in the US. Even though the Cboe and CME futures have allowed digital currencies to step into the mainstream financial system, the big players were challenged by lack of institutional-grade technology to support them.
The statement also revealed that solarisBank will offer a custodian service while customers will also receive access to an individual cryptocurrency wallet hosted by VPE. This will deliver stringent financial controls as well as secure storage, the company said.
Commenting on this, Katharina Strenski, Public Relations Manager at VPE, said: "Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw 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."
"Until now, institutional investors have faced high entry barriers to crypto trading. Our cryptocurrency trading services offer a much more convenient alternative," Strenski added.