Austrian bank Raiffeisenlandesbank NÖ-Wien makes a bold move, partnering with Bitpanda to reportedly get ready to become one of first major EU bank to offer crypto assets to its customers.
Raiffeisenlandesbank NÖ-Wien is an Austrian cooperative bank that operates in the regions of Lower Austria and Vienna. It is part of the larger Raiffeisen Bank International (RBI) group, which is one of the largest banking groups in Central and Eastern Europe. Raiffeisenlandesbank NÖ-Wien offers a range of banking and financial services to its customers, including savings and checking accounts, loans, mortgages, and investment products.
Bitpanda is a cryptocurrency exchange and brokerage based in Vienna, Austria. It was founded in 2014 and has since become one of the leading cryptocurrency platforms in Europe, with over 4 million users. Bitpanda allows users to buy, sell, and trade a range of cryptocurrencies, including Bitcoin, Ethereum, and XRP, among others. It also offers a range of other services, including a digital wallet, a debit card, and a savings plan for cryptocurrencies.
According to a blog post by Bitpanda published earlier today, Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien), a prominent Austrian bank, has entered into a partnership with Vienna-based Bitpanda GmbH, a leading investment and trading platform.
Bitpanda says that Bitpanda Technology Solutions, its digital Investment-as-a-Service (IaaS) solution, has enabled various FinTech startups and online platforms to offer investment options to millions of customers, making complex and exclusive financial markets more accessible.
The partnership with Bitpanda marks a significant step for RLB NÖ-Wien, as it could become one of the first traditional banks in the EU to include cryptocurrencies and other digital asset classes in its investment offerings. This move will be supported by Bitpanda’s API-driven, ISO 271001-certified infrastructure, tailored to incorporate Raiffeisen’s branding.
RLB NÖ-Wien’s decision to explore digital assets demonstrates its willingness to adapt and innovate in the evolving financial landscape. The bank’s partnership with Bitpanda aims to provide customers with more diverse investment opportunities, including stocks, ETFs, cryptocurrencies, commodities, and precious metals, with entry points as low as €1.
“The goal of Bitpanda is to add an innovative, secure facet to our product range and to enable all customers to easily accumulate wealth,” said Michael Höllerer, Director Director of Raiffeisenlandesbank NÖ-Wien.
Bitpanda’s Deputy CEO, Lukas Enzersdorfer-Konrad, told Cointelegraph that RLB NÖ-Wien intends to provide the new trading option to all its customer segments, including retail, private banking, and corporate clients. He emphasized the commitment of both RLB NÖ-Wien and Bitpanda to enable crypto trading as swiftly as possible, stating:
“Due to the way we’ve designed Bitpanda Technology Solutions, we can rapidly and securely integrate our infrastructure, with the aim of launching trading by the end of the year.“
Enzersdorfer-Konrad also mentioned that RLB NÖ-Wien’s forthcoming offering would encompass the entire range of Bitpanda’s digital asset selection, which includes over 2,500 assets.
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