The German VPE WertpapierhandelsBank AG (VPE) has launched regulated cryptocurrency trading services for institutional investors.
VPE said in a press release it 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 (Bitcoin), Litecoin (LTC/USD), Ethereum (ETH/USD) and others have become a promising asset class in recent years,” said Katharina Strenski, Public Relations Manager at VPE.
“We are pleased to be the first German bank to offer our customers cryptocurrency trading services," she added.
VPE customers will also receive access to an individual virtual currency wallet hosted by the bank, which is expected to 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.
By Siranush Ghazanchyan