As virtual currencies grow in popularity, there are more important investors that are ready to invest in cryptocurrencies. But it is sometimes difficult to find regulated exchanges that will allow them to operate without problems. Now, Germany has its first cryptocurrency exchange that will allow important investors to place their bets on the market.
Cryptocurrency Exchange for Whales
Germany is opening its first crypto exchange for whales. The company VPE Wertpapeierhandlesbank AG (VPE) explained that they are launching a cryptocurrency trading service for institutional investors. The exchange has got a license that makes of it secure and regulated for its customers.
Katharina Strenski, VEP spokesperson, explained that institutional investors have been facing high entry barriers to the crypto market and virtual currency trading services. According to her, VPE is now offering a much more convenient alternative for institutional and important investors.
Ms. Strenski said:
“Cryptocurrencies such as Bitcoin, Litecoin, Ethereum and others, have become a promising asset class in recent years. To date, trading digital tokens has been restricted to crypto exchanges and online marketplaces. We are pleased to be the first German bank to offer our customers cryptocurrency trading services.”
VPE is known as a centric exchange-based OTC trader. Different clients, including financial enterprises, investors, and institutions are able to have access to investment advice and portfolio management.
Germany’s Cryptocurrency Life
Germany has a very interesting crypto life. There are a couple of enterprises operating in the country and the government did not take strong regulations to control the market. The Ministry of Finance uploaded a document in which they explain that virtual currencies have been accepted as a means of payment in the country.
“Virtual currencies become the equivalent to legal means of payment, insofar as these so-called virtual currencies of those involved in the transaction as an alternative contractual and immediate means of payment have been accepted.”
In this way, Germany positions itself as a good country for cryptocurrencies and Bitcoin investments. It is also important to mention that Deutsche Bank has warned several times about using virtual currencies like Bitcoin.