The Austrian subsidiary of European lender Raiffeisen Bank is preparing to allow its clients to trade cryptocurrencies such as Bitcoin (btc) in the coming months.
After initially announcing its crypto plans in April 2023, Raiffeisen Bank's Raiffeisenlandesbank Niederรถsterreich-Wien (RLB Nร-Wien) is moving forward with a crypto launch in collaboration with Austrian crypto company Bitpanda.
RLB Nร-Wien expects to begin rolling out cryptocurrency trading services in Vienna in the first quarter of 2024, a spokesperson for the bank told Cointelegraph.
โRaiffeisenlandesbank Nร-Wien has signed a cooperation agreement with Bitpanda. Through this cooperation, we plan to offer an attractive digital investment platform in early 2024,โ the representative stated, adding:
โWe have seen customer demand for simple, intuitive digital investment platforms. Our core intent of making customer-centric decisions has sparked these efforts, which we are excited to bring to market.โ
With the launch of cryptocurrencies, RLB Nร-Wien users will gain access to all cryptocurrencies provided by the bank's partner Bitpanda, a RLB Nร-Wien spokesperson said.
Bitpanda Deputy CEO Lukas Enzersdorfer-Konrad previously told Cointelegraph that Raiffeisen's cryptocurrency offering Support the full range of Bitpanda's digital asset offering.which has more than 2500 cryptocurrencies, including Bitcoin and Ether (ETH). The executive also said that Raiffeisen was willing to make the cryptocurrency trading service available to all customer segments, including retail, private banking and corporate clients.
โAs we announced in April, the ultimate goal is for our offer to be available to all RLB Nร-Wien customers. However, the launch will begin with its customers in Vienna,โ a Bitpanda spokesperson said.
Related: Top Swiss bank launches Bitcoin and Ether operations with SEBA
Raiffeisen's move into cryptocurrencies is another sign of the growing adoption of Bitcoin, in addition to companies like Ferrari begins accepting cryptocurrencies as payment in October 2023. Raiffeisen Bank is one of the oldest banks in Europe, with the first Raiffeisen bank being launch in Mรผhldorf, Austria, in 1886. As of June 30, 2023, the Raiffeisen Group had 247 billion Swiss francs ($280 billion) in assets under management and 219 billion Swiss francs ($248 billion) in loans to clients.
Magazine: 5,050 Bitcoin for $5 in 2009: Helsinki's claim to crypto fame
Post navigation
