The crypto-exchange Bitpanda has formed a new partnership with Raiffeisen Bank, to expand in Austria. In fact, its cryptocurrency offering will be available to customers in the 55 bank branches throughout the country.
Summary
Bitpanda expands in Austria: the partnership of the crypto-exchange with Raiffeisen Bank
According to what is reported, it seems that Bitpanda’s broker and crypto-exchange is expanding more and more in Austria, thanks to its partnership with Raiffeisen Bank.
And indeed, Bitpanda’s cryptocurrency offering will be available to all customers of the 55 bank branches throughout the country.
In this regard, Lukas Konrad, vice CEO of Bitpanda, stated that he is confident in the regulatory framework of the European Union, which in theory seems to be already translating into “adoption”.
In fact, it seems that the current Bitpanda-Raiffeisen Bank partnership, which started several months ago, has seen a 10% increase in adoption rate, with new investors mainly purchasing large-cap cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).
Here are his words:
“Europe has a great advantage when it comes to cryptocurrencies: a clear regulatory framework, which will come into effect starting from January 2025. The same regulatory clarity exists in the regions of Dubai and Abu Dhabi. But in the United States this does not happen, making entities like banks hesitant. It’s not the case in the United Arab Emirates.”
Bitpanda: the crypto-exchange expands in Austria and opens its first office outside Europe in Dubai
In addition to its expansion in European territory, particularly in Austria, at the beginning of the week Bitpanda also announced the opening of its new office in Dubai.
Basically, Bitpanda has chosen the United Arab Emirates (UAE) as its first expansion outside of Europe.
Specifically, the regulatory framework on the topic of cryptocurrencies in the UAE region is clear, anticipating other jurisdictions such as the United States, where confusion still reigns.
And so, while in Europe the Market in Crypto Assets regime (MiCA) is in force and will enter its implementation phase this year, in the UAE the Virtual Assets Regulatory Authority (VARA) is in force.
The closing of Q1 2024 as a leading broker in Europe
Recently, Bitpanda closed its Q1 2024 with its position as the leading crypto-exchange in Europe, thanks to its offering of 411 cryptocurrencies.
Not only that, through its B2B platform, Bitpanda Technology Solutions (BTS), these cryptos have also become available to partner banks, fintech companies, (neo)brokers, and cryptocurrency companies.
At the end of March 2024, therefore, Bitpanda had 4.5 million European users in almost 30 countries, the result of a significant period of growth.
In addition to the 411 cryptocurrencies offered, Bitpanda’s broker also offers 2,800 digital assets such as stocks, ETFs, precious metals, and commodities.
