Bitpanda, an Austria-based crypto exchange and trading platform, has announced a partnership with Coinbase to facilitate the offering of digital assets to European banks and fintechs. Through this collaboration, Coinbase will utilize Bitpanda Technology Solutions, an infrastructure layer provider, to directly connect with banks and fintech companies.
According to Lukas Enzersdorfer-Konrad, COO of BitPanda, despite the challenges faced by the crypto industry, banks in Europe are eager to provide crypto services to their customers, particularly since the adoption of the Markets in Crypto-Assets (MiCA) regulatory framework. While Coinbase offers liquidity and custody solutions, they lack the complete middle layer infrastructure that enables partners to integrate and offer crypto trading and storage on their platform.
Bitpanda has already established crypto connectivity with several banks, neo-banks, and fintech platforms, including Raiffeisenlandesbank, N26, Lydia, Plum, and Hype. Enzersdorfer-Konrad noted that banks can see the flow of funds to crypto companies and recognize the potential business they are missing out on, as well as the demand from their customer base if they can instill trust in the process.
Guillaume Chatain, Coinbase’s head of Institutional Sales for EMEA & APAC regions, expressed delight in partnering with Bitpanda to cater to institutions seeking compliant and robust crypto services for their customers. The collaboration aims to provide a seamless and secure experience for institutions entering the crypto market while complying with regulatory requirements.
By leveraging Bitpanda’s infrastructure, Coinbase can expand its reach and tap into the European market, enabling banks and fintechs to offer crypto services with the necessary support and security provided by both companies.
Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.