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German Bank WEG Bank AG to Start Cryptocurrency Processing From 2020

By Alex Nimoy Oct. 3, 2019, 9:49 a.m.

The German bank, WEG Bank AG, announced it would process payments in the Cryptocurrencies as of 2020. This financial institution, which is partially owned firms Blockchain Nimiq, TokenPay and Litecoin Foundation, is opening its doors to retailers who use Cryptocurrencies. For the time being, this group only represents proof of the sandbox. Matthias von Hauff, CEO of WEG Bank AG, stated on this point that: it is not necessary to be a customer of the bank. This implies that, although there is a user of a German bank, you will be able to enjoy the benefits it brings to perform cryptographic operations.

The news was well-received within the community of the encryption since that is a way to promote digital currencies among people who still have not ventured into the ecosystem. In addition, von Hauff said that this new “actor” banking will allow retailers to send payments to cryptographic to their own wallets. It may also be possible to withdraw money in cash directly into a bank account. The program will be administered by the brand new fintech de WEG Bank AG, TEN31. The program is designed to start with Bitcoin, Litecoin and several other Cryptocurrencies not revealed by the times. In turn, it was reported that the WEG Bank AG was looking to integrate an exchange.

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