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Raiffeisen Financial institution Worldwide, a significant banking establishment primarily based in Vienna with $215 billion in belongings, is about to introduce cryptocurrency buying and selling companies to its huge buyer base throughout the European Union and Japanese Europe. The service, which is scheduled for launch by January 2024, is a results of the financial institution’s partnership with Bitpanda, a platform regulated by Austria’s Monetary Market Authority and Germany’s Federal Monetary Supervisory Authority.
The financial institution, which caters to 17.8 billion clients, goals to fulfill the wants of the digitally literate demographic on the lookout for safe and various funding choices. The collaboration with Bitpanda will permit Raiffeisen Financial institution’s purchasers to commerce cryptocurrencies straight by the financial institution’s app. The interface is designed to be user-friendly, making the method so simple as conventional financial institution transfers.
Curt Chadha, a consultant from Raiffeisen Financial institution, emphasised that the service would include strong safety measures that clients are already accustomed to. This transfer comes as digital belongings proceed to achieve traction amongst retail buyers who’re diversifying their portfolios past conventional shares, bonds, and valuable metals.
The preliminary rollout of the service will start in Vienna, the place Raiffeisen Financial institution is headquartered. Bitpanda’s platform not solely helps cryptocurrency trades but additionally affords buying and selling in shares, ETFs, and valuable metals, thus offering a complete suite of digital asset investments for purchasers.
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