Raiffeisen Expands Crypto Services Across Europe with Bitpanda Deal
Raiffeisen Bank International is expanding its cryptocurrency services across Europe through a deal with brokerage firm Bitpanda. The partnership will allow Raiffeisen's 18 million customers to trade and invest in Bitcoin and other digital assets. This move follows the trend of major banks launching crypto trading and custody services worldwide, with BBVA, Santander's Openbank, Germany's cooperative and savings banks, SoFi, PNC, Charles Schwab, and Morgan Stanley having already done so.
Raiffeisen CEO Michael Höllerer stated that customer demand is driving the bank's decision to offer crypto trading services. The partnership builds on a previous arrangement between Raiffeisen Landesbank Niederösterreich-Wien (RLB NÖ-Wien) and Bitpanda, which began in Austria and allowed for crypto trading within the existing banking environment.
The new deal sets up a single approach for the whole Raiffeisen group, moving away from separate integrations market by market. This will enable customers to access digital asset products through Bitpanda's technology, which includes investment infrastructure, liquidity, custody, payments, stablecoins, and tokenisation.