MUNICH and BERLIN, April 25, 2018 /PRNewswire/ --
Securities trading bank VPE has launched the first cryptocurrency trading service for institutional investors in Germany, expanding its brokerage offering
VPE WertpapierhandelsBank AG (VPE) has launched regulated cryptocurrency trading services for institutional investors. VPE offers best-in-class technology and possesses a license from German financial regulator BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht) to offer its customers secure and regulated cryptocurrency trading services.
"Cryptocurrencies 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," said Katharina Strenski, Public Relations Manager at VPE.
As a securities trading bank, VPE has an impressive trading track record and has access to the appropriate networks and technical requirements for processing individual transactions. VPE also meets all necessary KYC (Know your Customer) and AML (Anti-Money-Laundering) requirements.
The product, which offers automated cryptocurrency trading, has been developed in partnership with solarisBank, the first banking platform with a full banking license, and with support from leading banking and legal crypto experts.
VPE's virtual currency trading account is held in escrow by solarisBank. Customers will also receive access to an individual virtual currency wallet hosted by VPE. This will make trading fast and simple while ensuring the highest security standards.
"Until now, institutional investors have faced high entry barriers to crypto trading. Our cryptocurrency trading services offer a much more convenient alternative," Strenski added.
Risk Disclosure: Trading and investing in cryptocurrencies involves substantial risk of loss and is not suitable for every investor.
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SOURCE VPE WertpapierhandelsBank AG