The partners assured customers they could reach their financial ambitions starting with as little as €1.
A unit of Raiffeisen Bank in Vienna has partnered with crypto company Bitpanda to offer cryptocurrencies to banking customers. As the Vienna-based unit of Raiffeisen Bank and Bitpanda came together to provide crypto to the lender’s customers, the partners signed a letter of intent to corporate. According to a statement by the lender, the evaluation of the offer should be completed by year-end.
Ein wichtiger Schritt für die Krypto-Adoption in der EU:
Raiffeisenlandesbank hat sich entschieden, mit Bitpanda Technology Solutions zusammenzuarbeiten, um ihr Angebot um eine Vielfalt digitaler Vermögenswerte zu erweitern. pic.twitter.com/XGueEJy76R— Bitpanda (@Bitpanda) April 26, 2023
Bitpanda and Raiffeisen Bank Collaborate on Crypto Offering
Bitpanda announced the partnership with the Raiffeisen Bank unit on April 26, noting that Raiffeisenlandesbank NÖ-Wien, which is a part of Austria’s leading baking group, has become the first EU’s traditional bank to debut into crypto via a collaboration with Bitpanda Technology Solutions. The exchange explained that its digital Investment-as-a-Service (Iaas) had helped many online platforms and fintech with their customers with access to simple and safe investments. It added that Bitpanda Technology Solutions changes the perception that investment is a complex and exclusive financial market by making it accessible to all.
“In what’s a first among traditional banks in the EU. RLB NÖ-Wien is set to become a pioneer with its plans to include cryptocurrencies and other asset classes in its digital investment offering.”
The crypto company noted that they would actualize the plan through Bitpanda’s API-driven ISO 271001-certified infrastructure and Raiffeisen branding. Simply put, the crypto offering service to customers is backed by the bank’s design and the exchange’s technology.
The Joint Venture Aims to Give Financial Liberation to Customers
In addition, the partnership with Bitpanda emphasizes the Vienna-based Raiffeisen Bank unit’s vision to continually impact the financial market. The company’s goal is to help its users to take their financial future into their own hands. Under the collaboration, the offering includes stocks, precious metals, commodities, and ETFs. The general director of Raiffeisenlandesbank NÖ-Wien, Michael Höllerer, commented on the alliance. He said that the new relationship aims to have an innovative aspect to the company’s product range. The general director added that the development will allow customers to easily accumulate wealth. Also, he said the cooperation with Bitpanda is a new chapter as it continues to maximize the use of synergies.
Speaking on the agreement with the Vienna-based unit of Raiffeisen Bank, Bitpanda CEO Eric Demuth said:
“The financial market is complex and sometimes exclusive. However, we aim to make investing accessible to everyone. It is about simple, intuitive products that do not require a user manual. With Bitpanda Technology Solutions you have we have created a software-as-a-service infrastructure that enables our partner banks to offer their customers all assets digitally. Rounded off by regulated and secure custody of all assets. We look forward to our common path.”
The partners assured customers they could reach their financial ambitions starting with as little as €1.
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