Bitpanda enters into licensing agreement with Coinbase

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Bitpanda, the Vienna-based crypto investment firm, has signed a license agreement with Coinbase.

The deal will see Coinbase added as a liquidity provider for Bitpanda Technology Solutions, the “investment as a service” arm of Bitpanda, which will also start using Coinbase Prime custody services.

The deal will pave the way for Coinbase Institutional customers outside of the United States for Bitpanda’s investment-as-a-service platform, according to the announcement.

Institutional clients of the platform can onboard the trading infrastructure to begin offering their own clients trading, investing and custody tools for a range of assets, including equities and crypto. The Austrian bank Raiffeisenlandesbank, the German neobank N26, the French fintech Lydia and the British Plum are already using the service.

A high bar

In today’s announcement, both companies emphasized that they are regulated entities with high KYC standards.

“Bitpanda and Coinbase share one ambition: to make investing in digital assets safe and secure in a regulated manner,” said Lukas Enzersdorfer-Konrad, Deputy CEO and COO of Bitpanda, in a written statement. “At a time when the industry offers an unprecedented opportunity to unlock the potential of digital assets for its customers, we come together to define a clear future and drive this ambition forward.”

The move is the latest sign that Coinbase is trying to put down deeper roots outside the United States amid a crackdown by regulators in the region. The company recently obtained a license to operate an international exchange from Bermuda, where it plans to offer derivatives trading while expanding its offering in Singapore.

© 2023 The Block Crypto, Inc. All rights reserved. This article is provided for informational purposes only. It is not offered or intended for use as legal, tax, investment, financial or other advice.

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