By Amelia Isaacs on Thursday 25 May 2023
Coinbase will connect directly into banks and fintechs through Bitpanda Technology Solutions.
Austrian based trading platform and crypto exchange Bitpanda is partnering with Coinbase to help drive the adoption of digital assets and to meet the demand for access to regulated trading infrastructure.
The deal will see Bitpanda Technology Solutions enable Coinbase to bring regulated trading infrastructure services directly to banks and fintechs outside of the US.
As part of the partnership, Bitpanda will also also Coinbase Exchange as one of the main liquidity providers to its network.
In turn, all activities will be supported by Coinbase’s liquidity and Coinbase Prime’s custody solution.
“Bitpanda and Coinbase share an ambition, which is to make investing and trading in digital assets safe, secure and accessible to everyone,” Bitpanda COO and deputy CEO Lukas Enzersdorfer-Konrad told AltFi.
“We’ve both taken a regulation-first approach with our business models, ensuring that we’re working within regulatory frameworks every step of the way to give our customers complete peace of mind.
“Together we will be able to work towards our goal of driving forward the adoption of digital assets around the world.”
Bitpanda has recently partnered with a number of other fintechs, including N26, Plum and French money app Lydia.
Coinbase, meanwhile, is continuing to expand its EU focus and “deepen its local footprint”.
The partnership will allow Coinbase institutional broker clients located outside of the US to whitelabel Bitpanda’s investing-as-a-service platform, according to Enzersdorfer-Konrad, providing customers with anytime trading.
“At Coinbase, we’re working hard to update the financial system by building trusted products that expand the utility and adoption of crypto because we believe crypto and blockchain technology have the ability to increase economic freedom and opportunities around the world,” Guillaume Chatain, Coinbase head of institutional sales EMEA and APAC, said.
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