Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien), an Austrian cooperative banking institution established in 1900, is preparing to introduce cryptocurrency investment services in partnership with the Austrian digital asset firm Bitpanda.
In a joint announcement dated April 26, RLB NÖ-Wien outlined plans to offer its clients a wide array of cryptocurrencies through Bitpanda’s software as a service (SaaS) platform. This new crypto investment option will be integrated alongside existing services for stocks, exchange-traded funds (ETFs), precious metals, and commodities.
“The agreement with Bitpanda is designed to broaden our product portfolio with an innovative and secure component, allowing all customers to easily build wealth,” said Michael Höllerer, CEO of RLB NÖ-Wien.
This move marks a significant step for a major Austrian banking group into the cryptocurrency investment sector with a newly planned service offering.
Bitpanda co-founder and CEO Eric Demuth (left) and RLB NÖ-Wien CEO Michael Höllerer (right). Source: Bitpanda
The new service is designed to enable RLB NÖ-Wien customers to invest in various digital assets regardless of their capital size, with minimum investment thresholds starting at just one euro.
Related Posts
Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda, told Cointelegraph that RLB NÖ-Wien intends to make the new trading option accessible to all customer segments, including retail, private banking, and corporate clients. He noted that both organizations are committed to launching the service as soon as possible, adding:
“Thanks to our architecture for Bitpanda Technology Solutions, we can integrate our infrastructure quickly and securely, with plans to make trading available by the end of the year.”
Enzersdorfer-Konrad further clarified that the upcoming offering will provide access to Bitpanda’s full range of digital assets, which includes more than 2,500 tokens, such as 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, a network of independent cooperative banks, and holds a 22.6% stake in Raiffeisen Bank International (RBI).
As previously reported, RBI has been actively experimenting with digital currency developments. In 2020, the global Raiffeisen banking group was developing a platform for national currency tokenization using blockchain technology. The bank is also recognized for its participation in trade finance pilots utilizing R3’s Marco Polo blockchain network.
Magazine: Here’s how Ethereum’s ZK-rollups can become interoperable
