Deutsche Bank Joins Bison as Banking Partner
Bison, a cryptocurrency trading platform owned by the Boerse Stuttgart Group, announced on Jan. 13 that Deutsche Bank has become its banking partner.
This collaboration aligns with Bison’s multi-banking strategy, enabling Deutsche Bank to safeguard the euro balances of Bison’s customers.
@DeutscheBank wird weiterer Banking-Partner von BISON! 🚀
Die Deutsche Bank wird im Rahmen der Multi-Banking-Strategie von #BISONApp in die Verwahrung der Euro-Guthaben eingebunden. Solaris SE bleibt als unser langjähriger Banking-Partner bestehen. Ein- & Auszahlungen sowie… pic.twitter.com/U9r84KGRO5
— BISON App – Krypto, Aktien & ETFs einfach kaufen (@bisonapp) January 13, 2025
Bison confirmed in its press release shared with Cryptonews that this new partnership will not disrupt its existing and successful collaboration with Solaris SE, Bison’s long-standing banking partner.
No Changes to Fees or Limits for Bison Users
Bison customers will continue to be able to access their euro balances seamlessly through the Bison app. There will be no changes to fees and deposit and withdrawal limits will remain unaffected, according to the company’s press release.
To ensure a smooth transition, Bison has outlined the necessary steps for customers, which include updating the Bison app to the latest version 4.4.0 and accepting the updated terms and conditions. As a final step, users will be asked to agree to have their deposits held in a trust account with Deutsche Bank.
According to Bison, customer deposits remain protected, with both Solaris SE and Deutsche Bank offering deposit protection of up to €100,000 per depositor and bank, as required by law.
Deutsche Bank Deepens Ties to Crypto Market
In December 2024, Deutsche Bank partnered with cryptocurrency exchange Crypto.com, expanding its reach into the crypto market and offering corporate banking services to Crypto.com across Asian-Pacific markets. The partnership covers key regions like Singapore, Australia, and Hong Kong.
Exciting Banking Milestone 🔊
Deutsche Bank will provide corporate banking services for https://t.co/vCNztATkNg in Australia, Hong Kong and Singapore, with a view to extending support into Europe and the UK as the relationship progresses.
We’re proud to have the backing of one… pic.twitter.com/1BOQa4yE97
— Crypto.com (@cryptocom) December 10, 2024
Deutsche Bank’s services extend beyond traditional banking for crypto companies. They offer a range of solutions, including fiat-to-crypto exchange and cross-border trading services.
The German bank also expressed interest in forging similar partnerships in the United Kingdom and other European countries.
Additionally, Deutsche Bank is reportedly developing its own Layer-2 blockchain solution on Ethereum using ZKsync technology. This L2 solution, part of Project Dama 2, aims to address the regulatory and compliance challenges associated with utilizing public blockchains in regulated financial services.
Project Dama 2 is part of the Monetary Authority of Singapore’s (MAS) Project Guardian, an initiative bringing together 24 financial institutions to explore the potential of blockchain-based asset tokenization.
Source: cryptonews.com
