A local Austria-based bank is integrating the tech solution of cryptocurrency exchange Bitpanda. Thus, it will be the first traditional bank in Europe to offer the opportunity to invest in popular cryptocurrencies. Here are the details…
Cryptocurrency move from Austria-based bank
RLB NÖ-Wien, a regional bank based in Austria and a member of the Raiffeisen Banking Group, is the first traditional bank in the EU to offer its clients the opportunity to invest in cryptocurrencies such as Bitcoin (BTC), Ripple (XRP), Shiba Inu (SHIB). It plans to go down in history as a bank. The regional bank plans to offer its customers the opportunity to invest in Bitcoin, Shiba Inu and XRP by integrating Bitpanda Technology Solutions, which provides an investment-as-a-service (IaaS) solution to institutions. Bitpanda currently supports over 2,500 assets across five asset classes, including crypto, equities, ETFs, precious metals and commodities.
Bitpanda announced the planned partnership in a recent blog post. In the official statement, RLB NÖ-Wien stressed the importance of the partnership and announced that it had signed a letter of intent. The bank stated that it is currently examining the feasibility and details of the cooperation with Bitpanda and that the assessment is expected to be concluded by the end of this year. RLB NÖ-Wien’s customers include more than 270,000 distinguished companies, institutions and individuals in the southern regions of Austria and Vienna. As a result, this development could greatly support Shiba Inu and XRP. Because it can support adoption rates and increase demand significantly.
In addition, RLB NÖ-Wien’s integration of cryptocurrencies such as BTC, SHIB and XRP into its investment offerings will provide its clients with greater flexibility and diversification opportunities in their investment portfolios. This move marks a growing trend among traditional financial institutions that are now starting to include digital assets in their offerings.
Banks want to offer Bitcoin and altcoins to their customers
Earlier this month, PostFinance, a leading Swiss financial institution, partnered with Sygnum Bank to offer crypto investments to its clients. Banking institutions such as Wells Fargo, Bank of America, Morgan Stanley, and Citigroup have also become involved in crypto investments. Bitpanda Technology Services is currently working with German digital bank N26, German cloud banking platform Mambu, UK fintech Plum, Italian neo-bank Hype and more.
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