Deutsche Bank Joins Bizon’ Banking Strategy Expansion
The Boerse Stuttgart Group-owned crypto trading platform-Bison, named, has created a new business association with Deutsche Bank. Cooperating on January 13th, thus extended the ability of the Bison’s multi banking-relationship strategy and has commissioned Deutsche Bank as the custodian of its client’s euro balance.
This agreement is intended to complement the already existing relationship between Bison and Solaris SE, which is the long-term banking partner of the platform. Both institutions will continue working together in order to guarantee smooth services and uninterrupted access for the users of Bison.
What This Means for Bison Users
One thing that will not change for customers of Bison with this transition is the current fees, deposit, or withdrawal limits. To make the process as smooth as possible, Bison outlined a few steps for users:
Update the Bison app to the latest, version 4.4.0.
Accept changed terms and conditions.
Consent that deposits will be held in a custody account with Deutsche Bank.
The platform has, however, assured users that deposits are still legally protected and Solaris SE and Deutsche Bank offer deposit protection of up to €100,000 per depositor and bank.
Deutsche Bank Expanding Its Cryptocurrency Involvement
Deutsche Bank has been growing its presence in the cryptocurrency market. In December 2024, the bank partnered with Crypto.com to extend corporate banking services across key Asia-Pacific markets such as Singapore, Australia, and Hong Kong-a move regarded as an important step in extending its reach into the digital asset ecosystem.
In addition to corporate banking, Deutsche Bank offers cryptocurrency companies a number of services that include fiat-to-crypto exchanges and solutions for cross-border transactions. It has also claimed that it would forge similar alliances in the UK, along with other European nations.
Leading Blockchain Innovation
Off of its financial services, Deutsche Bank is also doing work in the innovation of blockchain. Under Project Dama 2, the bank is developing its Layer-2 Ethereum-based blockchain solution using the ZKSync technology in an effort to address regulatory and compliance challenges relating to the employment of public blockchains for regulated financial services.
Project Dama 2 is one of the series under Project Guardian by the Monetary Authority of Singapore, where it unites 24 financial institutions in a search for blockchain-based asset tokenization. It will unlock newer opportunities for secure and compliant blockchain adoptions in financial markets.
