Raiffeisen Bank of Austria is collaborating with BitPanda to provide crypto trading options to customers in Vienna.

Austria’s Raiffeisen Bank International They plan to launch crypto trading options for retail customers by the end of January 2024, starting with clients in Vienna. This service is a collaboration with a leading cryptocurrency exchange. BitPanda Customers can conveniently access BitPanda through the Raiffeisen app on their smartphones, mirroring the experience of standard bank transfers with trusted safety protocols.

Nestled in Vienna, Raiffeisen Bank International, which has been around for nearly a century, aims to reach a significant portion of the Austrian population with this new offering. Unlike other banks that primarily cater to affluent individuals, this service targets tech-savvy consumers interested in smaller investments.

Traditional banks are beginning to explore cryptocurrency offerings in their financial services.

Raiffeisen Bank's latest move, backed by roughly $215 billion in assets and a customer base of 17.8 million across Europe, marks a significant milestone in the mainstream acceptance of cryptocurrencies.

Given the enormous potential of the digital asset market, which could soon reach trillions of dollars, it has become a focal point for investors and businesses alike. Many banks are now looking at cryptocurrency adoption to broaden the scope of their services.

Currently, institutions such as BNY Mellon and Societe Generale are already providing custody solutions for their clientele. Standard Chartered Recently, Deutsche Bank has jumped on the bandwagon by partnering with the Swiss crypto firm Taurus, allowing them to offer custody services for both cryptocurrencies and tokenized assets to their institutional clients.

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