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. This points to the proliferation of financial institutions starting to offer crypto services in Europe and around the world. 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 integrates Bitpanda Technology Solutions, which provides an investment-as-a-service (IaaS) solution to institutions. Thus, it plans to offer its clients the opportunity to invest in Bitcoin, Shiba Inu and XRP. 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 is currently examining the feasibility and details of its collaboration with Bitpanda. He stated that this evaluation is expected to be concluded by the end of this year. RLB NÖ-Wien’s clients include institutions in the southern regions of Austria and Vienna. Its client list includes more than 270,000 distinguished companies, institutions and individuals. All in all, this development points to the possibility of massively supporting Shiba Inu and XRP. Because, as we have reported as Kriptokoin.com, this development can support adoption rates. In parallel with this, it can increase the 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 crypto in their offerings.
Banks want to offer Bitcoin and altcoins to their customers
Earlier this month, a crypto move also came from PostFinance, one of the leading Swiss financial institutions. PostFinance has partnered with Sygnum Bank to offer its clients cryptocurrency investments. Sygnum is a famous bank focused on cryptocurrencies. On the other hand, Wells Fargo, Bank of America, Morgan Stanley and Citigroup are also involved in crypto. Bitpanda Technology Services is currently working with Germany-based digital bank N26, German cloud banking platform Mambu, UK fintech Plum, Italian neo-bank Hype and more.
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