WEG Bank receives crypto trading and custody license

Tuesday 27 August 2019 10:42 CET | News

Germany-based WEG Bank has announced it obtained a cryptocurrency trading and custody license in Estonia.

In addition, the bank also revealed that it is now trying to take hold of a securities trading and custody license in Germany, mentioning that the institution believes that ‘working out of a premium regulatory environment is one of’ its key assets.

In April 2019, browser-based blockchain payments system Nimiq has acquired a 9.9% stake in WEG Bank. The stake acquisition followed a partnership meant to allow for a crypto-to-fiat bridge that would enable the exchange of value between crypto and traditional banking systems.

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Keywords: WEG Bank, crypto trading, custody license, Estonia, cryptocurrency, digital assets, Germany, banks, blockchain, payments , exchange, banking
Countries: World