Bitpanda, the Vienna-based crypto company, has just announced that it has entered into a licensing agreement with Coinbase, one of the world’s leading cryptocurrency exchanges. The move marks an important step in Coinbase’s ongoing efforts to expand its presence overseas.
A strategic partnership for Bitpanda and Coinbase
As US regulators tighten their grip on companies in the crypto sector, some savvy players are looking to more favorable horizons.
With this in mind, Coinbase, a leading American exchange, associates to Bitpanda, a reputable Austrian platform. The goal is to facilitate links between Coinbase and banks in Europe that want to offer crypto assets to their customers.
Under the terms of the agreement, Coinbase will act as a liquidity provider for Bitpanda Technology Solutions, the investment services division of Bitpanda.
At the same time, Bitpanda will also use the custody services offered by Coinbase Prime. This collaboration will allow Coinbase’s institutional clients outside of the United States to access Bitpanda’s investment platform as a service.
Through this agreement, institutional clients will have the ability to offer their own clients a range of trading, investment and custody tools for various assets, including stocks and cryptos.
Major players such as Austria-based Raiffeisenlandesbank, German neobank N26, French fintech Lydia and Britain’s Plum are already using Bitpanda’s services.
In a joint statement, Bitpanda and Coinbase highlighted their commitment to regulatory compliance and rigorous know-your-customer (KYC) standards.
” Bitpanda and Coinbase share a common ambition: to make investing in digital assets safe and secure in compliance with regulations. As the industry offers an unprecedented opportunity to unlock the potential of digital assets for our clients, we come together to shape a clear future and realize this ambition.“, says Lukas Enzersdorfer-Konrad, Deputy CEO and COO of Bitpanda
This partnership highlights Coinbase’s desire to consolidate its position on a global scale. In a context marked by increasing regulatory pressure in the United States, Europe could quickly become an attractive alternative for companies in the crypto sector.
Indeed, the MICA law provides a clear answer to a regulatory problem that had remained vague and to which the SEC and the other American regulatory bodies have never succeeded in providing a concrete solution.
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