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One of the oldest banks in Europe will start providing crypto services

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One of the oldest European banks, Bankhaus von der Heydt, will start providing cryptocurrency services in cooperation with Fireblocks

One of the oldest banks in Europe and Germany, Bankhaus von der Heydt (BVDH), will begin providing cryptocurrency storage services. This was reported in the official press release of Fireblocks, which will act as a blockchain partner of the bank.

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As part of the cooperation, Fireblocks will provide custody services for the storage of cryptocurrencies for BVDH clients. In addition to storage, the German bank’s clients will also have access to trading and staking, said Philippe Doppelhammer, managing director of BVDH.

For BVDH, the partnership with Fireblocks is not the first experience in the digital asset market. For example, in December 2020, a German bank, in cooperation with Bitbond, issued a stablecoin EURB based on the Stellar blockchain.

This is not the first partner bank for Fireblocks. The company already cooperates with American banks BNY Mellon, Signature Bank and Thailand’s Siam Commercial Bank.

Read also: The largest bank in Germany creates a crypto depository

The company also said last October that its institutional clients transferred more than $ 150 billion in cryptocurrencies to avoid dollar inflation and asset depreciation. Fireblocks’ client list includes exchanges, credit bureaus, banks, OTC marketplaces, liquidity providers, and hedge funds.

Earlier, the editors reported that the German car dealer Auto1 FT began to provide intermediary services for the sale of cars through the Ethereum blockchain. In a press release, the company says that each stage of the transaction goes through a smart contract. In this way, the company hopes to eliminate paper costs for registration of a purchase and sale. Read about why, according to Flitch, investments of German funds in cryptocurrencies are associated with liquidity risks – read in the material of the editorial office of BeInCrypto.

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