Bitpanda Expands Partnership with Raiffeisen to 55 Additional Banks

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Sead Fadilpašić

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Sead Fadilpašić

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Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

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May 8, 2024 07:33 EDT

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Major European Investing-as-a-Service provider Bitpanda Technology Solutions has expanded its partnership with banking giant Raiffeisen.

Now, customers of the Raiffeisen banks in Burgenland and Lower Austria will be able to invest in cryptocurrencies and other digital assets via Bitpanda through the mobile banking app Mein ELBA.

This is in addition to customers of Raiffeisenlandesbank NÖ-Wien in Vienna who have been able to utilize this offer.

Therefore, the partnership with Bitpanda Technology Solutions will be rolled out to an additional 55 Raiffeisen banks.

Through this existing banking app, customers in both Burgenland and Lower Austria now have “secure and easy access” to over 2,000 digital assets, said the press release today.

Today, Raiffeisenlandesbank Niederösterreich-Wien became the first major traditional European bank to offer direct investment in digital assets, made possible through the partnership with Bitpanda Technology Solutions.

Learn more about this historic partnership:… pic.twitter.com/H3r19TwWl5

— Bitpanda (@Bitpanda_global) January 25, 2024

The partners offer the service specifically to users who want to invest “digitally and independently” in crypto, precious metals, and other asset classes via Mein ELBA.

“The user-friendly white-label integration from Bitpanda Technology Solutions enables “trading for all” in the truest sense of the word,” Bitpanda says.

It provides a clear and comprehensible overview of all assets within the app.

Therefore, both new investors and experienced traders can benefit from the customized service.

New Milestones and Rise in Customer Demand

This latest news follows the success of the collaboration with RLB NÖ-Wien, announced in January.

Lukas Enzersdorfer-Konrad, CEO of Bitpanda Technology Solutions, stated that this partnership is “a perfect example of what banks can achieve when they approach projects with ambition and an innovative perspective.”

Notably, since the joint launch with Raiffeisenlandesbank Niederösterreich-Vienna in January, Bitpanda recorded “a significant increase in customer demand.”

Dank dieser Partnerschaft wird Bitpanda Tech die RLB NÖ-Wien bei ihren kontinuierlichen Bemühungen unterstützen, Wachstum und Innovation im Sinne der Kunden zu ermöglichen und sich als Vorreiter unter den traditionsreichen europäischen Banken zu etablieren.

— Bitpanda (@Bitpanda) April 26, 2023

Now, with this latest expansion, “a new milestone has been set,” commented Rudolf Suttner, CEO of RLB Burgenland.

“With the integration of Bitpanda into the Mein ELBA app, we are one of the first traditional banks in Europe to enable trading in digital assets,” he said.

The bank’s aim was to create “absolute customer centricity,” and this cooperation has enabled just that.

Their customers can “innovatively and independently” invest in crypto and other Bitpanda asset classes from anywhere, anytime, for as little as EUR 1.

By integrating Bitpanda into the app, “we have created an innovative investment solution that we hope will also inspire new customers,” Suttner said.

For Bitpanda, too, this partnership expansion is an important milestone, it said.

The company added that it has over four million users and is heavily regulated.

It holds a MiFID II investment firm license and an E-money license under PSD II. It also has several crypto licenses and registrations as a provider of virtual assets in Austria, Germany, France, Italy, Spain, Sweden, Bulgaria, the Czech Republic, and other countries.

Meanwhile, Bitpanda recently announced an operations expansion to the Middle East. It is opening a regional office in the United Arab Emirates.

Former 1inch Network’s business development and head of growth, Walid Benothman, will lead its operations in the region.

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