KEY FACT: Raiffeisenlandesbank Niederösterreich-Wien, a major European bank has partnered with Bitpanda Technology Solutions to give customers access to direct Investments in crypto.
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European Bank partners Bitpanda Technology Solutions
Raiffeisenlandesbank Niederösterreich-Wien has partnered with Bitpanda Technology Solutions to offer direct investment in digital assets to its customers. This was announced in a post on X (Twitter) via Bitpanda's handle. The announcement as translated read thus:
An important step for crypto adoption in the EU: Raiffeisenlandesbank has decided to partner with Bitpanda Technology Solutions to expand its offering to include a variety of digital assets.
Raiffeisenlandesbank Niederösterreich-Wien is the first major traditional European bank to offer direct investment in digital assets. This is a significant step towards Bitpanda Technology Solutions towards Crypto Adoption in the European Union.
With this partnership, customers of 55 Raiffeisen banks in Burgenland and Lower Austria can now invest in cryptocurrencies and other digital assets via Bitpanda through the mobile banking app Mein ELBA. These customers can now have “secure and easy access” to over 2,000 digital assets.
With this partnership, the Raiffeisen Bank has successfully created an absolute customer-centricity that favours both parties in the partnership. Already, customers of Raiffeisenlandesbank NÖ-Wien in Vienna have been able to utilize this offer too after launch in January.
For Bitpanda, too, this partnership expansion is an important milestone. So far Bitpanda has also recorded a significant increase in customer demand. The company has over four million users and is heavily regulated.
In response, CEO of Bitpanda Technology Solutions, Lukas Enzersdorfer-Konrad views the partnership as a model for banks with ambition and an innovative perspective. On his part, Rudolf Suttner, CEO of RLB Burgenland said that a new milestone has been set.
“With the integration of Bitpanda into the Mein ELBA app, we are one of the first traditional banks in Europe to enable trading in digital assets”... "Their customers can “innovatively and independently” invest in crypto and other Bitpanda asset classes from anywhere, anytime, for as little as EUR 1."
Suttner furthered that the integration of Bitpanda into the app has created an innovative investment solution that is hoped to inspire new customers.
Bitpanda Technology Solutions is a major European Investing-as-a-Service provider that offers diverse investment options including cryptos, stocks, ETFs, metals, and commodities. The platform ensures high security by complying with European laws, using cold storage, and conducting external audits. Bitpanda is user-friendly and accessible to all levels with a €1 minimum investment and a mobile app.
Bitpanda holds a MiFID II investment firm license and an E-money license under PSD II. It also has several crypto licenses and registrations as a provider of virtual assets in Austria, Germany, France, Italy, Spain, Sweden, Bulgaria, the Czech Republic, and other countries.
It is obvious that partnerships between traditional banks and blockchain technology-providers could improve organic adoption into crypto.
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