DZ Bank and Boerse Stuttgart have entered into a partnership contract
-
Altcoin News
Bitcoin news
Blockchain News
blog
DeFi News
Exchange News
General
Market News
Prediction
Без рубрики
Johny Smith
2024/09/27
3 mins read
A large financial institution from Germany, DZ Bank, has entered into a partnership agreement with the Boerse Stuttgart service. This will allow 700 corporate lending institutions under the auspices of DZ Bank to provide their clients with access to digital assets. The new platform will begin deployment around the end of this year. But at an early stage, only selected customers will be able to use the service. The operational and technical elements of the new service are already being implemented, and the first banks are planned to be connected by the end of 2024.
It is expected that based on the results of tests and surveys of participants, the service will be fully launched. In addition, the Stuttgart Stock Exchange will focus on providing legal infrastructure and technical elements. Earlier, in April of this year, representatives of Landesbank Baden-Wurttemberg announced that they would soon offer clients solutions for storing digital assets.
Support will be provided by the Pitpanda cryptocurrency exchange. Partnership with this platform will allow the federal bank to obtain the appropriate license, which is necessary to conduct its core activities. Earlier, employees of the financial institution Bernstein analyzed the situation on the cryptocurrency market.
They believe that a systematic recovery in the profitability of the DeFi segment can soon be expected. Profile protocols allow trading participants to use stablecoins and earn passive income.
It should be noted that the peak popularity of these instruments occurred in 2020, after which there was a decline. However, in 2024, this segment began to actively recover. According to experts, the main support for decentralized protocols will come from easing the Fed’s monetary policy. Following yesterday’s meeting, the regulator actually reduced the key rate.
Error in the text? Select it with the mouse and click Ctrl + Enter
32