Sunday, 17 February 2019

VPE partners solarisBank to provide cryptocurrency trading

WertpapierhandelsBank (VPE) has partnered with fintech company solarisBank to provide automated cryptocurrency trading and access to cryptocurrency wallets hosted by the bank.
The BaFin-regulated bank is the first in Germany to offer this service, and asserts its compliance with all necessary KYC (Know your Customer) and AML (Anti-Money-Laundering) requirements.

Though VPE may be the first Germany-based bank to move into cryptocurrency trading, the first European bank to do so was Bank Frick, in the German-speaking microstate of Liechtenstein.

Germany has not placed heavy restrictions on cryptocurrency as of yet and, in February 2018, the country's president said that effective regulation of virtual currencies would only be achievable through international cooperation.

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