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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