Unveiling Raiffeisen Bank of Austria's latest venture into cryptocurrency trading in partnership with Bitpanda.
Set for launch by January 2024, this service promises to revolutionize the digital asset market for Austrians, blending traditional banking with modern crypto solutions.
Raiffeisen Bank's New Cryptocurrency Trading Service Aiming for End of January 2024 Launch
It has been revealed through multiple media reports that Raiffeisen Bank of Austria plans to initiate a cryptocurrency trading service for its individual customers by the end of January 2024.
The cryptocurrency trading service will be provided in collaboration with "Bitpanda," a platform offering trading services in cryptocurrencies, stocks, precious metals, and ETFs.
Initially, the service will be available to customers in Vienna, the capital of Austria.
Residents in the target area will be able to access Bitpanda's services through Raiffeisen Bank's mobile app.
While the types of cryptocurrencies available for trading have not been disclosed, the service is reported to have functionality and security measures similar to bank transfers between accounts, allowing users to utilize the service with familiar operations.
Furthermore, this cryptocurrency trading service is described as being focused on customers considering small-scale investments, distinct from another service aimed at wealthier clients with larger investment amounts.
With Raiffeisen Bank possessing approximately $215 billion in assets and catering to 17.8 million customers across the EU and Eastern Europe, the initiation of this cryptocurrency trading service is anticipated to promote the spread and trading of cryptocurrencies.
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