• DWP Bank in Europe has unveiled a platform that will give roughly 1,200 banks in Germany access to bitcoin and digital currencies.
• Banks in Germany are looking for alternative solutions outside of fiat currencies due to the banking crisis that is affecting both America and Europe.
• The new platform from DWP Bank allows banks to purchase and sell BTC units while still carrying out standard online banking activities.
Banking Crisis Affecting Germany
The banking crisis that’s affecting America at the time of writing is not just happening in the U.S., it’s spread 3,000 miles across the Atlantic and is also causing problems for Europe. Look, for example, at Credit Suisse. The enterprise was in serious trouble until UBS decided it had what it took to bail the institution out. Anyone who thinks we aren’t in a recession needs to look up the definition of “recession” and confirm with themselves that things aren’t as great as they might seem.
DWP Bank Platform
So, the idea that countries like Germany suddenly want to get their hands on bitcoin and other digital assets is a sign that perhaps banks aren’t as stable as we’ve all been led to believe, and thus they want to bring in bitcoin and other alternative assets to avoid the “stability” of fiat currencies and the institutions that have since failed them. DWP Bank will now allow all the banks in Germany connected to its platform to purchase and sell BTC units while still carrying out standard online banking activities. In a statement, DWP Bank said:
Expanding Crypto Offerings
CEO of the company Heiko Beck also threw his two cents into the mix, claiming that the bank is planning to expand its crypto offerings and services in the coming future. He mentioned: Digitized assets will become increasingly important in the future. That is why we are expanding our range of services in this area and focusing our portfolio more closely on the future opportunities that arise here. The new platform has already been tested out by MLP Banking AG, a client of DWP Bank. Head of account and securities settlement with MLP Paul Utzat said: In our MLP client portal, it is a logical addition to the existing wealth management offering
Banking Situation Getting Worse?
The banking problems in America have caused three separate institutions (Silvergate, Silicon Valley, and Signature) to shutter their doors per day due financial issues – something no one would have expected just 10 or 15 years ago! This begs us ask if similar scenarios might occur over at German-based banks if they don’t look for alternative solutions such as cryptocurrencies?
Germany appears ready for digital asset trading via its many affiliated banks – but only time will tell whether or not this move proves successful enough throughout Europe’s financial systems overall!