Deutsche Bank said Thursday that it has partnered with HashKey Exchange, Hong Kong’s largest licensed virtual asset exchange, to launch a new fiat deposit channel.
Deutsche Bank Partners with HashKey Exchange to Expand Fiat Deposit Services
As part of the collaboration, Deutsche Bank will now provide fiat currency deposit services, allowing HashKey Exchange clients to deposit Hong Kong dollars and US dollars into virtual accounts managed by the bank.
The bank explains that the initiative introduces an alternative deposit option, utilising API-based virtual account solutions to streamline transactions.
The partnership also extends beyond HashKey Exchange to HashKey Capital, the group’s global digital asset management arm.
Deutsche Bank revealed it has opened accounts for investor fund collection, settlement, and liquidity management, consolidating HashKey Capital’s funds across Asia.
Ole Matthiessen, Deutsche Bank’s Head of Corporate Bank for Asia Pacific, Middle East & Africa, and Global Head of Cash Management, stated: We are delighted to help HashKey Exchange expand its suite of solutions and enhance the experience of its customers. Our expertise with serving clients in the fintech, platform and digital economy space positions us strongly to partner with HashKey Exchange to take its operations to the next level and grow for the long-term.”
Hai Yang Ru, Chief Risk Officer of HashKey Group, added: “By integrating Deutsche Bank’s API-based virtual account solution, we are enhancing the flexibility and convenience of fiat deposit services for our users.”
As of January 15, 2025, HashKey Exchange ranked seventh globally on CoinGecko’s exchange list, making it the highest-ranked licensed virtual asset exchange in Hong Kong.
