dwpbank receives MiCAR authorization for crypto custody and transfers

dwpbank (Deutsche Wertpapier Service Bank) has received MiCAR authorization from BaFin to provide cryptocurrency custody, management, and transfer services. This expansion allows the bank to enhance its wpNex digital asset platform by adding regulated custody and transfer services to its existing order execution capabilities.

Through the wpNex platform, affiliated banks and savings banks can offer their customers integrated end-to-end processes for trading and storing crypto assets within their existing banking environments. This setup aims to eliminate the need for end-customers to register with separate crypto exchanges or manage private keys and wallets independently. dwpbank will handle process integration and central regulatory tasks, such as reporting, to act as an infrastructure layer for its client institutions.