This move makes Raiffeisenlandesbank NÖ-Wien the first traditional bank in the EU to venture into crypto.
The partnership aims to provide customers with a simple and safe investment experience. Bitpanda's digital Investment-as-a-Service (Iaas) has helped many online platforms and fintech companies provide their customers with access to simple and safe investments. The exchange's technology changes the perception that investment is a complex and exclusive financial market by making it accessible to all. With the partnership, the crypto offering service to customers is backed by the bank's design and the exchange's technology.
Under the collaboration, the offering includes stocks, precious metals, commodities, and ETFs. Customers can start with as little as EUR 1, and the partners have assured customers that they can reach their financial ambitions with this small amount.
The evaluation of the offer is expected to be completed by the end of the year. In the meantime, the partners have signed a letter of intent to corporate. According to an official statement by the lender, the partnership with Bitpanda emphasizes the Vienna-based Raiffeisen Bank unit's vision to continually impact the financial market. The company's goal is to help its users take their financial future into their own hands.
Bitpanda announced the partnership with the Raiffeisen Bank unit noting that the collaboration with Raiffeisenlandesbank NÖ-Wien, which is a part of Austria's leading baking group, marks the first time a traditional EU bank has debuted into crypto. The exchange explained that its digital Investment-as-a-Service (Iaas) has helped many online platforms and fintech companies provide their customers with access to simple and safe investments.
The partnership between the two companies is expected to give customers financial liberation by providing access to a variety of investment options, including cryptocurrency.
Bitpanda has recently partnered with Visa Fintech Partner Connect programme. As part of this collaboration, Bitpanda's investment infrastructure solutions will be made available to Visa's partners. This will enable financial institutions, banks, and fintechs to offer trading and investment services for asset classes like stocks, ETFs, precious metals, crypto, and commodities to their customers. In addition to this partnership, Bitpanda also announced plans to expand outside of Europe, potentially extending its investment services to a broader customer base globally.
Moreover, the company entered into a partnership with Mambu, a cloud banking fintech. As a result, Mambu became a customer for Bitpanda's B2B division, Bitpanda Technology Solutions. Mambu will also have the option of offering Bitpanda's product range to its own customers in the future. Bitpanda began offering other companies the opportunity to integrate its range of digital assets into their platforms using white labels in mid-2021, and this has been done under the Bitpanda Technology Solutions brand since the beginning of 2023. Banks and fintechs can use this solution to provide Bitpanda's product range to their customers.
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