Raiffeisen, the Austrian bank, is pushing back banking boundaries by becoming the first in Europe to offer direct investment in crypto-assets via its mobile application. In partnership with Bitpanda, this advance demonstrates the evolution of the traditional banking sector towards cryptocurrencies. From January, customers in Vienna will be able to trade various digital assets, marking a new era in the convergence between traditional and decentralized finance in Europe.
Crypto at the heart of a banking revolution in Vienna
Raiffeisen Bank has chosen to restrict freedoms by no longer accepting cash deposits or withdrawals from December 2022. A hard blow for cash lovers in Germany. The Austrian bank closes its last branches in a district of Frankfurt, announcing the end of cash transactions. An open breach for bitcoin (BTC) and other cryptocurrencies? Apparently yes.
Indeed, clients of the old Raiffeisen Bank have just received an amazing update : goodbye classic transactions, hello crypto-assets! Thanks to his Bitpanda partnerthe Austrian bank integrates the crypto trading in its mobile applicationprecise CoinDesk. A turning point in traditional European finance, defying emerging rules.
Viennese customers, the first to be initiated, can trade over 2,000 digital assets. The 97-year-old bank, with $215 billion in assets, is dancing to the beat of the crypto-revolution. The alliance with Bitpanda opens a new era, combining tradition and digital innovation.
“ Inasmuch as reliable and secure partner, we adopt our products to the needs of our customers. The offer proposed with Bitpanda responds to the growing demand for digital investment solutions and constitutes the coherent implementation of our resolutely customer-oriented strategy. Through this collaboration, we position ourselves as a pioneer and send a strong message to the financial markets », comments Michael Höllerer, CEO of Raiffeisen Bank.
Raiffeisen and Bitpanda are game changers in Austria.
No more conventional transactions, time for cryptos! This offer, integrated into the Mein ELBA mobile app, democratizes digital trading. Bitpanda, a safe and regulated platform, offers a transparent and secure experience.
“ We think that many banking customers are interested in cryptos, or at least curious but most are too fearful to invest. If you can do this directly from your bank, it will greatly facilitate access and cryptos will spread to more people. We set an unprecedented standard for the banking industry “, explains Bitpanda CEO Lukas Enzersdorfer-Konrad to The gallery.
Raiffeisen aims to seduce young people by positioning itself as a pioneer. While 29% of 20-39 year olds already invest online, the bank wants to make it easier to build wealth, attracting crypto enthusiasts who are making a comeback.
The approval of bitcoin ETFs in the United States by the SEC stimulates this new momentum.
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