Summary
- Bitpanda said it will support trading in around 10,000 stock and ETF products starting on the 29th of this month.
- It said fees for stock and ETF trades are €1 per transaction, with no additional order fees or custody fees charged.
- It said some centralized exchanges (CEXs) are tapping traditional finance (TradFi) investment products to attract more investors.
Austrian cryptocurrency exchange Bitpanda is entering the stocks and exchange-traded fund (ETF) market.
According to Cointelegraph on the 21st (local time), Bitpanda announced that starting on the 29th of this month it will support trading in around 10,000 stock and ETF products. The fee for stock and ETF trades is €1 per transaction. No additional order fees or custody fees will be charged. Bitpanda said this is "a measure to simplify investing across a variety of asset types."
Bitpanda is not the only cryptocurrency exchange expanding its supported offerings into traditional finance (TradFi) products. U.S. cryptocurrency exchanges Kraken and Coinbase launched stock trading services last year. Cointelegraph reported that "some centralized exchanges (CEXs) are turning to traditional finance investment products to attract more investors."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
