Introduction
It is reported that Deutsche Wertpapier Service Bank (dwpbank), which provides securities processing services for about 1200 banks in Germany, is creating a new digital asset platf
It is reported that Deutsche Wertpapier Service Bank (dwpbank), which provides securities processing services for about 1200 banks in Germany, is creating a new digital asset platform, wpNex, which will launch a pilot crypto asset trading platform for retail customers in the second half of this year. It is reported that this new service will provide crypto accounts and do not require additional KYC procedures. The tradias digital asset trading services of Tangany and Bankhaus Scheich, both wallet-as-a-service providers, will also participate in the new product, and retail customers will not hold private keys. “Dwpbank CEO Heiko Beck said that the bank plans to add more cryptocurrencies, digital assets, and tokenized securities to the service in the future.”.
German dwpbank to launch digital asset platform wpNex
The digital asset market has been growing exponentially in recent years, with numerous players entering the market to provide various services to retail and institutional customers. Deutsche Wertpapier Service Bank (dwpbank) has taken notice of this growth and is reportedly creating a new digital asset platform called wpNex, which will launch a pilot crypto asset trading platform for retail customers in the second half of this year. This new service will provide crypto accounts and won’t require additional KYC procedures. In addition, the tradias digital asset trading services of Tangany and Bankhaus Scheich, both wallet-as-a-service providers, will also participate in the new product.
# Overview of Deutsche Wertpapier Service Bank
Deutsche Wertpapier Service Bank (dwpbank) provides securities processing services for about 1200 banks in Germany. The bank has been in operation for over 60 years and has established itself as a reliable partner for its clients. The bank’s expertise lies in processing securities and providing related services, such as tax and payment processing. dwpbank is also a leader in the custodian business, which involves the safekeeping of securities and assets for clients.
# The Creation of wpNex
Deutsche Wertpapier Service Bank has recognized the growing demand for digital assets and has decided to create a new digital asset platform, wpNex. This platform will provide a pilot crypto asset trading platform for retail customers in the second half of this year. The platform will cater to retail customers and will not require additional Know Your Customer (KYC) procedures. This means that customers who already have an account with dwpbank will be able to use wpNex without having to go through additional verification processes.
The tradias digital asset trading services of Tangany and Bankhaus Scheich, both wallet-as-a-service providers, will also participate in the new product. This will enable customers to trade cryptocurrencies without having to hold private keys. Tangany and Bankhaus Scheich will provide the necessary infrastructure for the platform, allowing dwpbank to focus on providing the necessary regulatory and operational support.
# The Future of wpNex
Dwpbank CEO Heiko Beck has stated that the bank plans to add more cryptocurrencies, digital assets, and tokenized securities to the service in the future. This means that wpNex will continue to grow and evolve, providing more opportunities for customers to trade and invest in digital assets. Additionally, the platform will help to bridge the gap between traditional banking services and the digital asset market, providing a reliable and secure way for customers to access this market.
# Conclusion
Deutsche Wertpapier Service Bank’s creation of wpNex is a significant development in the digital asset market in Germany. The platform will provide retail customers with access to the market, without the need for additional KYC processes. This, coupled with the participation of Tangany and Bankhaus Scheich, will provide customers with a reliable and secure way to trade cryptocurrencies. The future of wpNex looks promising, with the bank planning to add more cryptocurrencies, digital assets, and tokenized securities to the service in the future.
# FAQs
1. Will wpNex be available to institutional customers?
No, wpNex will only be available to retail customers.
2. Will customers be required to hold private keys to trade cryptocurrencies on wpNex?
No, customers will not be required to hold private keys. Tangany and Bankhaus Scheich will provide the necessary infrastructure for the platform, allowing customers to trade cryptocurrencies without having to hold private keys.
3. Will customers be able to trade all cryptocurrencies on wpNex?
At present, wpNex will only provide a pilot crypto asset trading platform. However, dwpbank plans to add more cryptocurrencies, digital assets, and tokenized securities to the service in the future.
# Keywords
Deutsche Wertpapier Service Bank, wpNex, crypto asset trading, Tangany, Bankhaus Scheich, digital assets, tokenized securities, KYC
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