Saturday, September 30, 2023

Bitcoin at banks: Raiffeisenlandesbank to offer crypto investment services

Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien), an Austrian cooperative banking firm based in 1900, is getting ready to launch crypto investment services in collaboration with the Austrian crypto agency Bitpanda.

According to a joint announcement on April 26, RLB NÖ-Wien plans to present its prospects with a broad vary of cryptocurrencies via Bitpanda’s software program as a service (SaaS) providing. Crypto investment can be featured alongside investment services for shares, exchange-traded funds, treasured metals and commodities.

“The deal with Bitpanda aims to expand our product range with an innovative, secure facet and enable all customers to easily accumulate wealth,” RLB NÖ-Wien CEO Michael Höllerer mentioned.

Part of the key Austrian banking group Raiffeisen Bank International is shifting into cryptocurrency investment with a brand new deliberate providing.

Bitpanda co-founder and CEO Eric Demuth (left) and RLB NÖ-Wien CEO Michael Höllerer (proper). Source: Bitpanda

The new offer goals to enable RLB NÖ-Wien prospects to spend money on numerous property whatever the quantity of obtainable capital, enabling investments from as little as one euro.

Bitpanda Deputy CEO Lukas Enzersdorfer-Konrad advised Cointelegraph that RLB NÖ-Wien needs to make the brand new buying and selling possibility out there to all buyer segments — theretail, personal banking and company prospects of RLB NÖ-Wien. He additionally mentioned that each RLB NÖ-Wien and Bitpanda are dedicated to making crypto buying and selling out there as quickly as attainable, including:

“Thanks to the way we have built Bitpanda Technology Solutions we are able to integrate our infrastructure quickly and safely, and plan to make trading available by the end of the year.”

Enzersdorfer-Konrad additionally famous that RLB NÖ-Wien’s upcoming new providing would characteristic the complete vary of Bitpanda’s digital asset providing, which consists of over 2,500 property, together with Bitcoin (BTC) and Ether (ETH).

Related: China’s state-affiliated banks onboarding crypto companies in Hong Kong

RLB NÖ-Wien is part of the Austrian Raiffeisen Bankengruppe grouping of unbiased cooperative banks, owning a 22.6% stake in Raiffeisen Bank International (RBI).

As beforehand reported, RBI has been experimenting with digital forex growth. In 2020, the worldwide Raiffeisen financial institution was building a platform for the national currency tokenization utilizing blockchain know-how. The financial institution can also be recognized for participating in trade finance pilots involving R3’s Marco Polo blockchain community.

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