Coinbase partners with Bitpanda to expand in Europe

  • Coinbase partnered with Austrian crypto exchange Bitpanda to tap European banks that cater to crypto clients.
  • The partnership will see Coinbase provide custody and liquidity services to Vienna-based Bitpanda.

A new partnership between Vienna-based crypto exchange Bitpanda and American crypto giant Coinbase is set to revolutionize the European banking sector’s access to digital assets.

The collaboration aims to enable European banks to offer cryptocurrencies to their customers by leveraging Bitpanda Technology Solutions.

Coinbase To Provide Liquidity and Custody Services

The licensing deal between Coinbase and Bitpanda will see the American exchange provide liquidity and custody services to Bitpanda. Coinbase will leverage Bitpanda’s infrastructure to cater to European banks that serve crypto clients.

Lukas Enzersdorfer-Konrad, COO of BitPanda, highlighted the significance of this development, particularly in Europe.  The adoption of the Markets in Crypto-Assets (MiCA) regulatory framework in the EU has laid the foundation for digital asset integration.

 The partnership with Bitpanda fills the gap in the infrastructure layer required for banks and fintech companies to seamlessly integrate and offer crypto trading and storage services to their customers.

By leveraging Bitpanda’s crypto connectivity, which is already established with a number of banks, neo-banks, and fintech platforms, institutions can now tap into the growing demand for cryptocurrencies among their customer base.

Enzersdorfer-Konrad emphasized that banks can now access valuable data on their customers’ payment transactions, gaining insights into the amount of funds flowing out to crypto companies.

This data helps banks understand the extent of business they are missing out on and realize the untapped potential of their customer base.

The partnership with Bitpanda and the subsequent integration with Coinbase’s robust services offer banks the opportunity to gain their customers’ trust and unlock the vast potential of the crypto market.

Guillaume Chatain, Coinbase’s head of Institutional Sales for EMEA & APAC regions, expressed his excitement about the partnership, stating, “[Coinbase is] delighted to partner with BitPanda to jointly service institutions looking to bring the market and their customers compliant, robust crypto services.”