Deutsche Bank AG has announced on Monday, the 01.10.2019, published press release, the cooperation with the Austrian payment service provider Salamantex. Specifically, a partnership between TEN31, the FinTech Arm of Deutsche Bank AG, and Salamantex behind it. The self-stated goal of the partnership is to allow crypto payments in Germany. According to the Motto: Bitcoin accepted here.
Contents
Bitcoin accepted here: Crypto-companies involved in ROAD Bank
The WAY Bank AG has already a longer history and a connection to the Blockchain, and Digital Asset industry. So almost 30 percent of the shares are in the hands of the Blockchain and of the company Nimiq, and TokenPay, as well as the Litecoin Foundation. An affinity for crypto-currencies is already in place.With the new partnership concluded, it should be possible from 2020, to allow for crypto-currencies as a valid means of payment in retail. The Chairman of the Board of the WAY Bank AG, Matthias von Hauff, said:
Our house looks in the growing proliferation of digital currencies is a Chance, since after a certain Initial Hype is now establishing an increasingly professionalised new class of investment instruments and payment services.
It must be emphasized that the use of the services of a Bank account in the Bank necessary. The services of the new partnership is to create the regulatory framework, so that the retailer – in this respect, he would like to receive Fiat on his Bank account, for example, if Bitcoin is to be paid.You have to read everything and want to still not miss anything? Then sign up now for our weekly Newsletter and be always Up-to-date. Get easy access to all relevant News about Bitcoin & Crypto, Blockchain, Meetups, and news within our Community by E-Mail – summarized and clear. Subscribe to the Newsletter now.
Salamantex is an experienced Player in the area of Payment Solutions
Salamantex self interacts with its Payment Solutions are already for the end of 2018 in the Austrian market. Due to the innovative payment system, traders are given the opportunity to accept crypto-currencies as means of payment. The acceptance and adoption is both from a customer, as well as from the perspective of the retailer is simple and secure.An example: the dealer has to keep the full decision-making authority, whether currencies, the received Crypto like Bitcoin itself or the received amounts of Fiat money to pay off wants. Disadvantages from a retailers point of view, such as, for example, the high volatility of crypto-currencies, be intercepted. This is ensured by the fact that the rate of the received crypto-currency is hedged for a certain period of time. Through the use of innovative solutions such as these will pave the way for a “bitcoin accepted here” sign.René Pomassl, the managing Director of the Salamantex GmbH, commented on the partnership in the press release as well. Here, he points to the cooperation with the BaFin as well as the First-Mover character and finds words of praise for the Blockchain-strategy of the German government.
By working with the WAY Bank AG and TEN31, and the ongoing examination by the BaFin, we strengthen our claim as a first mover in the market. The just-published Blockchain-strategy of the German Federal government underlines the growing importance of the sector and creates the necessary regulatory framework. A step which we warmly welcome.
Through its partnerships Salamantex and TEN31 offer a future-oriented solution for the payment market. An important step in the direction of Crypto Adoption. Retailers can crypto be received currencies to be without at the end on the possibility to receive Euros in the account, without.The WAY Bank AG is working with the Salamantex GmbH, to establish Bitcoin as a means of payment. What do you think about the potential of the partnership? Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News. [Image Source: Shutterstock]