By Daniel Lanyon on Monday 22 November 2021
Austrian fintech unicorn Bitpanda and French financial super-app Lydia have joined forces to bring investing to the latter's millions of customers.
Lydia has struck a deal to offer crypto and stock trading to its 5.5 million users through a white label deal with Bitpanda.
Lydia will use Bitpanda’s API-driven infrastructure to give their customers 24/7 access to investing with trades executed through the former’s platform.
The French banking challenger, which counts a third of 18-35 year olds in France as users, was launched in 2013 by Antoine Porte and Cyril Chiche. It doesn’t hold a banking license but is increasingly positioning itself in the increasingly popular ‘super app’ category.
“With Lydia trading, our ambition is to widen access to investment assets, to make it accessible to everyone whether they are simply curious, beginner investors or experts. Our users get to choose what their money finances, contrary to the traditional bank system. We are the first on the French market to provide such an extensive range of digital assets”, adds Cyril Chiche, CEO and Co-founder of Lydia.
Austrian fintech unicorn Bitpanda, which launched in 2014 as a crypto trading app but now also offer fractional shares and ETFs, has been moving into the B2B2C space in the past year.
“Our goal is to reimagine what it means to invest, by making simple, easy-to-use financial products for everyone,” said Eric Demuth, Bitpanda Co-founder and CEO.