Raiffeisenlandesbank to provide crypto investment services
Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien), an Austrian cooperative banking company founded in 1900, is preparing to launch crypto investment services in partnership with Austrian crypto firm Bitpanda.
According to a joint announcement on April 26, RLB NÖ-Wien plans to provide its customers with a wide range of cryptocurrencies through Bitpanda’s software as a service (SaaS). Crypto investments will be featured alongside investment services for stocks, exchange-traded funds, precious metals and commodities.
“The agreement with Bitpanda aims to expand our product range with an innovative, secure facet and enable all customers to easily accumulate wealth,” said RLB NÖ-Wien CEO Michael Höllerer.
Part of the large Austrian banking group Raiffeisen Bank International is entering cryptocurrency investments with a new planned offering.
The new offer aims to allow RLB NÖ-Wien customers to invest in various assets regardless of the amount of available capital, enabling investments from as little as one euro.
Bitpanda Deputy CEO Lukas Enzersdorfer-Konrad told Cointelegraph that RLB NÖ-Wien wants to make the new trading option available to all customer segments – retail, private banking and corporate customers of RLB NÖ-Wien. He also said that both RLB NÖ-Wien and Bitpanda are committed to making crypto trading available as soon as possible, adding:
“Thanks to the way we have built Bitpanda Technology Solutions, we are able to integrate our infrastructure quickly and securely, and plan to make trading available by the end of the year.”
Enzersdorfer-Konrad also noted that RLB NÖ-Wien’s upcoming new offering will feature the full range of Bitpanda’s digital asset offering, which consists of over 2,500 assets, including Bitcoin (BTC) and Ether (ETH).
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RLB NÖ-Wien is part of the Austrian Raiffeisen Bankengruppe group of independent cooperative banks, and owns a 22.6% stake in Raiffeisen Bank International (RBI).
As previously reported, the RBI has been experimenting with digital currency development. In 2020, the global Raiffeisen bank built a platform for national currency tokenization using blockchain technology. The bank is also known for participating in trade finance pilots involving R3’s Marco Polo blockchain network.
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