Bitpanda has partnered with Coinbase to provide a link between US-listed exchanges and European banks interested in offering digital assets to their customers.
The partnership will allow Coinbase to use Bitpanda Technology Solutions, an infrastructure provider that provides direct connections to banks and fintechs. Despite the damage done to the asset class’s reputation from the crypto winter and bankruptcies last year, banks want to offer crypto to their customers, according to Bitpanda COO Lukas Enzersdorfer-Konrad, who commented on the matter.
Konrad: Banks Recognize Demand for Crypto
In an interview with CoinDesk, Enzersdorfer-Konrad said: “Coinbase has liquidity space and they have a custody system. “However, they do not have all the infrastructure middleware that a partner can integrate and deliver crypto traded on the Coinbase exchange, purchased and stored on Coinbase Custody to their end customers.”
Continuing his explanations on the subject, Enzersdorfer-Konrad explained that banks are becoming more and more aware of their customers’ interest in crypto. Konrad continued, “Banks can see data on payment transactions and how much of their customers’ funds are flowing to crypto companies. “They realize how much business they’re missing out on and how much of their customer base will do it if they trust the process enough.” Bitpanda already has crypto connections with a number of banks, neo-banks and fintech platforms, including Raiffeisenlandesbank, N26, Lydia, Plum and Hype.
The partnership was also enthusiastically received by Guillaume Chatain, who serves as Coinbase’s head of institutional sales for the EMA and APAC regions.
Chatain stated that he is pleased with the partnership with Bitpanda to jointly serve institutions that want to bring compatible, robust crypto services to the market and their customers.
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