The adoption of cryptocurrencies has gained momentum globally, with more individuals and businesses embracing digital assets. European banks are now seeking ways to provide crypto services to their customers.
In a groundbreaking collaboration, Austrian-based crypto exchange and trading platform Bitpanda has joined forces with Coinbase, a leading U.S.-listed exchange, to facilitate this integration.
By leveraging Bitpanda Technology Solutions, a business-to-business infrastructure layer provider, Coinbase aims to connect directly with banks and fintech companies across Europe.
Enabling Crypto Services in Europe
Europe’s banks embrace the potential of digital assets as they partner with Bitpanda and Coinbase.
In the wake of the challenging crypto market conditions and the reputation damage caused by last year’s failures, European banks are eager to offer cryptocurrencies to their customers.
BitPanda COO Lukas Enzersdorfer-Konrad emphasizes the growing demand for crypto services, particularly since the adoption of the Markets in Crypto-Assets (MiCA) regulatory framework in Europe.
Leveraging Bitpanda Technology Solutions
Bitpanda Technology Solutions provides the necessary infrastructure layer for Coinbase to connect with European banks and fintechs.
Bitpanda’s business-to-business infrastructure layer, known as Bitpanda Technology Solutions, serves as the bridge between Coinbase and the European financial institutions.
This partnership enables banks and fintech companies to integrate with Coinbase’s exchange and offer their customers seamless access to trading and storing digital assets through Coinbase Custody.
Expanding Crypto Connectivity
Bitpanda’s existing crypto connectivity opens doors for collaboration with prominent European banks and fintech platforms.
Bitpanda has already established crypto connectivity with several influential banks, neo-banks, and fintech platforms. Notable institutions, including Austrian traditional lender Raiffeisenlandesbank, European mobile bank N26, French money app Lydia, U.K. fintech Plum, and Italian mobile bank Hype, are part of this network.
By leveraging Bitpanda’s infrastructure, these institutions gain insights into their customers’ payment transactions related to cryptocurrencies, allowing them to identify missed opportunities and further understand customer preferences.
Coinbase’s Perspective
Coinbase sees immense potential in partnering with Bitpanda to provide compliant and robust crypto services to institutions.
Guillaume Chatain, Coinbase’s head of Institutional Sales for EMEA & APAC regions, expressed excitement about the collaboration with Bitpanda. Chatain highlighted the partnership’s ability to jointly serve institutions interested in delivering secure and regulatory-compliant crypto services to their customers.
By leveraging the expertise and infrastructure of both companies, Coinbase aims to bridge the gap and enable seamless crypto integration within the European banking sector.
Final Thoughts
Bitpanda’s partnership with Coinbase marks a significant milestone in the European crypto landscape. By leveraging Bitpanda Technology Solutions, Coinbase gains a direct connection to European banks and fintechs, enabling these institutions to offer crypto services to their customers with ease.
As Europe’s crypto market expands under the MiCA regulatory framework, this collaboration sets the stage for increased adoption and integration of digital assets into the financial industry, empowering customers with new opportunities in the world of cryptocurrencies.
