• Austrian cooperative banking company – Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien) – has partnered with Bitpanda to roll out crypto investment services.
• The aim of the partnership is to help bank customers “reach their financial ambitions” and make investing accessible to everyone.
• Bitpanda CEO Eric Demuth highlighted the complexity and lack of inclusivity in the financial market and intends to simplify the process.

Austrian Banking Group Partner With Bitpanda

The Austrian cooperative banking company Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien) has partnered with crypto exchange Bitpanda to launch crypto investment services. This makes RLB NÖ-Wien the first major traditional bank in the European Union to move into digital assets.

Purpose of Partnership

The main purpose of this collaboration is for RLB NÖ-Wien customers to reach their financial ambitions by having access to stocks, ETFs, crypto, commodities, as well as precious metals through a SaaS offering from Bitpanda. The budget needed for these investments can start from as low as one euro.

Bitpanda CEO Comments

Bitpanda CEO Eric Demuth commented on the complexity of today’s financial market and its lack of inclusivity for all investors. According to him, it is important that products are simple and intuitive without needing a user manual. He also mentioned that they have created an infrastructure which allows partner banks to offer their customers all assets digitally with secure custody of all assets provided by them too.

Similar Partnership With German Digital Lender

This follows a similar agreement between the crypto exchange and German digital lender N26 which was announced earlier this year.

Conclusion

In conclusion, this new partnership between RLB NÖ-Wien and BitPanda will allow bank customers easier access into digital asset investments with lower budgets than before while making sure security measures are taken into account too .