96-Year-Old Austrian Bank Will Offer Crypto Investment Services With Help From Bitpanda

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Austrian bank Raiffeisenlandesbank N-Wien is making a bold move by partnering with Bitpanda to prepare to become one of the first major banks in the EU to offer crypto assets to its customers.

Raiffeisenlandesbank N-Wien is an Austrian cooperative bank that operates in the regions of Lower Austria and Vienna. It is part of the large Raiffeisen Bank International (RBI) group, which is one of the largest banking groups in Central and Eastern Europe. Raiffeisenlandesbank N-Wien offers a range of banking and financial services to its customers, including savings and checking accounts, loans, mortgages and investment products.

Bitpanda is a cryptocurrency exchange and brokerage based in Vienna, Austria. It was founded in 2014 and has since become one of the leading cryptocurrency platforms in Europe, with over 4 million users. Bitpanda allows users to buy, sell, and trade a range of cryptocurrencies including Bitcoin, Ethereum, and XRP, among others. It also offers a range of other services, including a digital wallet, debit card, and savings plan for cryptocurrencies.

According to a Bitpanda blog post published earlier today, Raiffeisenlandesbank Niedersterreich-Wien (RLB N-Wien), a leading Austrian bank, has entered into a partnership with Vienna-based Bitpanda GmbH, an investment platform and leading trading.

Bitpanda claims that Bitpanda Technology Solutions, its digital investment-as-a-service (IaaS) solution, has enabled various FinTech startups and online platforms to offer investment options to millions of customers, making financial markets complex and exclusive more accessible.

The partnership with Bitpanda marks an important milestone for RLB N-Wien, as it could become one of the first mainstream banks in the EU to include cryptocurrencies and other digital asset classes in its investment offerings . This decision will be supported by the Bitpandas API and ISO 271001 certified infrastructure, designed to integrate the Raiffeisens brand.

RLB N-Wiens’ decision to explore digital assets demonstrates its willingness to adapt and innovate in the changing financial landscape. The banks’ partnership with Bitpanda aims to provide customers with more diversified investment opportunities, including stocks, ETFs, cryptocurrencies, commodities and precious metals, with entry points as low as 1 .

Bitpanda’s goal is to add an innovative and secure facet to our product line and make it easy for all customers to accumulate wealth, said Michael Hllerer, Director of Raiffeisenlandesbank N-Wien.

Bitpandas Deputy CEO Lukas Enzersdorfer-Konrad told Cointelegraph that RLB N-Wien intends to provide the new trading option to all of its customer segments, including retail, private banking and corporate. He highlighted the commitment of RLB N-Wien and Bitpanda to enable crypto trading as quickly as possible, stating:

Thanks to the way we designed Bitpanda Technology Solutions, we can quickly and securely integrate our infrastructure, with the aim of launching trading by the end of the year.

Enzersdorfer-Konrad also mentioned that RLB N-Wiens’ upcoming offering will encompass Bitpandas’ entire digital asset selection lineup, which includes over 2,500 assets.

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