German bank aims to set up new crypto exchange for corporate clients

German VPE Wertpapierhandelsbank has received a license which allows it to trade digital currencies for institutional investors from the Federal Agency for Financial Services Supervision or Bundesanstalt für Finanzdienstleistungsaufsicht.

VPE’s initiative has been directly confirmed by the representatives of the bank. They note that financial organizations and institutional investors are meeting certain difficulties when trying to enter this market and the job of the new exchange is to eliminate these obstacles.

Because of Germany is one of the most developed countries of the European Union, it may set a trend for other members of this organization. As a reminder, the European Union members have strong economic ties and often exchange their experience as part of the joint initiatives within the EU’s communicational framework.

Börse Stuttgart exchange has recently voiced similar intentions, but unlike in this case, their mobile trading platform will be available for individual investors.

One can read the history of German banks and regulators’ relations with the cryptocurrency market in a separate related article on Bitnewstoday.