Austria's Raiffeisen to Launch Crypto Trading Service for 18 Million Customers
Summary
- Austria's financial group Raiffeisen Bank International (RBI) said it will launch a cryptocurrency investment service.
- Raiffeisen said it plans to provide cryptocurrency trading services to about 18 million customers in Europe through a partnership with Bitpanda.
- The two companies plan a phased rollout through subsidiaries in Central and Eastern Europe, and Raiffeisen said it aims to announce a new medium- to long-term strategy as soon as later this month.
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Austria's Raiffeisen Bank International, or RBI, will launch a cryptocurrency investment service.
Bloomberg reported on September 23 that Raiffeisen had partnered with Bitpanda to provide cryptocurrency trading services to customers in Europe.
The service will target about 18 million Raiffeisen customers. The two companies plan a phased rollout through Raiffeisen subsidiaries in Central and Eastern Europe.
Bitpanda is an Austrian crypto infrastructure company. It already offers crypto services through partnerships with companies including German digital bank N26.
The partnership comes shortly after Michael Hoellerer took office as Raiffeisen's chief executive officer. He plans to unveil the bank's new medium- to long-term strategy as soon as later this month.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul