European bank Raiffeisen is venturing into cryptocurrencies

The bank has partnered with Austrian cryptocurrency platform Bitpanda to enable its retail customers to buy, sell and hold cryptocurrencies.

In Europe, the Austrian general bank Raiffeisen Bank now offers cryptocurrency services to its customers. It is a large cooperative bank that has subsidiaries all over Luxembourg, Switzerland and even France.

This bank offers its individual customers access to more than 2,000 types of digital assets. Access takes place in the simplest way, through its mobile application. The customer can consult his account, make a transfer and thus can buy, sell and hold cryptocurrencies thanks to the partnership with the crypto exchange platform: Bitpanda, founded in 2014.

White mark

The offer is integrated into the white label to be fully functional, transparent and controlled within the bank’s digital activities.

“Seamless integration into Raiffeisen Bank’s mobile banking application is at the heart of the Bitpanda Technology Solutions offering. It enables our clients to invest directly from their bank account, securely and with complete confidence,” said Lukas Enzersdorfer-Konrad, Bitpanda CEO. Technological solutions.

For the European banking industry, this is an interesting initiative, such a direct entry of cryptocurrencies into the offer for individuals, and undoubtedly not the last. Bitpanda announced that it is in contact with other continental brands to also sell its easy-to-integrate solution. With a regulatory framework that is now stricter but also more transparent, Bitpanda could be the first-come, first-served expansion dynamic in Europe in the coming years.

Antoine Larigaudrie edited PA

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