- Bitpanda and Coinbase partner to connect European banks with digital asset opportunities, enabling traditional financial institutions to offer crypto services and meet growing customer demand in the region.
- Coinbase leverages Bitpanda Technology Solutions for seamless integration with banks, neo-banks, and fintech platforms, facilitating a smooth transition into the world of digital currencies.
- This partnership highlights the increasing interest of banks in digital assets and marks a pivotal moment in bridging the gap between traditional banking and the rapidly evolving cryptocurrency landscape.
Austria-based crypto exchange Bitpanda is teaming up with US exchange giant, Coinbase, to connect European banks interested in offering their customers access to digital assets. This partnership allows Coinbase to utilize Bitpanda Technology Solutions, a dedicated B2B infrastructure service, for smooth integration with banks and fintech organizations.
Cryptocurrencies continue to draw interest from the banking industry, despite the recent “crypto winter” and the challenges digital assets face due to unfortunate events and failures in the past year. BitPanda COO, Lukas Enzersdorfer-Konrad, observed that the appetite for digital currencies is robust in Europe following the introduction of the Markets in Crypto-Assets (MiCA) regulatory framework.
While Coinbase already boasts an established exchange and custody setup, it lacks a comprehensive infrastructure middle layer through which partners can embed and showcase digital assets purchased and traded on Coinbase’s platform and stored in Coinbase Custody to their users, according to Enzersdorfer-Konrad.
Bitpanda’s digital asset connectivity is presently linked with various banks, neo-banks, and fintech platforms, such as Austria’s Raiffeisenlandesbank, UK’s fintech firm Plum Europe’s mobile bank N26, France’s financial app Lydia, and Italy’s portable bank Hype.
Enzersdorfer-Konrad highlighted that banks have started to take note of the increasing volume of transactions and the number of their client’s assets being directed toward cryptocurrency ventures. This realization has led them to understand the potential business they could be doing better, as well as the increased participation they could see from customers if they were confident in the process. This collaboration between traditional banking and the cutting-edge world of digital currencies marks a significant milestone in the evolution of the financial industry.
Bitpanda Expands Crypto Access in Europe
Bitpanda, a leading European crypto exchange and trading platform, continues to thrive in Europe as it forges new partnerships and meets regulatory requirements. The company recently teamed up with US-based exchange giant Coinbase, connecting them to European banks and enabling these institutions to offer crypto services to their customers. This collaboration leverages Bitpanda Technology Solutions to facilitate seamless integration with banks throughout the region.
In addition to this partnership, Bitpanda has become the first European retail investment platform to comply with German licensing requirements, further solidifying its presence in the European market. As Coinbase intensifies its efforts to expand across Europe, its alliance with Bitpanda is poised to provide customers with broader access to cryptocurrencies and digital assets. This ongoing success highlights the growing influence and adoption of Bitpanda’s services in the European financial landscape.
As long as it complies with EU regulations regarding crypto, Bitpanda is poised to leave an excellent mark on European retail traders and investors.
