Investing.com | Editor Ambhini Aishwarya
Published Nov 23, 2023 06:02AM ET
Raiffeisen Bank International, a major banking institution based in Vienna with $215 billion in assets, is set to introduce cryptocurrency trading services to its vast customer base across the European Union and Eastern Europe. The service, which is scheduled for launch by January 2024, is a result of the bank’s partnership with Bitpanda, a platform regulated by Austria’s Financial Market Authority and Germany’s Federal Financial Supervisory Authority.
The bank, which caters to 17.8 billion customers, aims to meet the needs of the digitally literate demographic looking for secure and diverse investment options. The collaboration with Bitpanda will allow Raiffeisen Bank’s clients to trade cryptocurrencies directly through the bank’s app. The interface is designed to be user-friendly, making the process as simple as traditional bank transfers.
Curt Chadha, a representative from Raiffeisen Bank, emphasized that the service would come with robust security measures that customers are already accustomed to. This move comes as digital assets continue to gain traction among retail investors who are diversifying their portfolios beyond traditional stocks, bonds, and precious metals.
The initial rollout of the service will begin in Vienna, where Raiffeisen Bank is headquartered. Bitpanda’s platform not only supports cryptocurrency trades but also offers trading in stocks, ETFs, and precious metals, thus providing a comprehensive suite of digital asset investments for interested clients.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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Written By: Investing.com
