tradecrypto

Bitpanda to connect Coinbase with banks in Europe

Bitpanda Technology Solution, a business-to-business infrastructure provider, will help Coinbase connect directly with banks and fintechs in Europe that want to offer digital assets to their customers.

Coinbase and Bitpanda have reached an agreement under which Coinbase will become a liquidity provider for Bitpanda Technology Solutions. This collaboration also includes Bitpanda’s “investing-as-a-service” division, which will start utilizing Coinbase Prime’s custody services.

As a result of this partnership, Coinbase Institutional customers outside the U.S. will be able to use Bitpanda’s investing-as-a-service platform under their own branding.

Bitpanda COO Lukas Enzersdorfer-Konrad said in a written statement:

Bitpanda and Coinbase share an ambition — to make investing in digital assets safe and secure in a regulated way. At a time of unparalleled opportunity for the industry to harness the potential of digital assets for its customers, we are coming together to define a clear future and drive forward that ambition

Bitpanda’s services have already been used by European banks, neo-banks and fintech platforms such as Austrian bank Raiffeisenlandesbank, German neobank N26, French fintech firm Lydia, the UK’s fintech Plum, and Italian mobile bank Hype.

Enzersdorfer-Konrad added:

Banks can see the data on their payment transactions and how much of their customers’ funds have been flowing out to crypto companies.They understand how much business they are missing out on, and also how much more of their customer base would do that business, if they had enough trust in the process.

The announcement of the partnerships comes as the Markets in Crypto-Assets (MiCA) regulation has been adopted in Europe and is set to take effect in June 2024.

Related: EU ministers approve MiCA

Meanwhile, Coinbase has received a Wells Notice from SEC in the U.S. alleging that the exchange is offering unregistered securities. At the same time, Coinbase has filed a complaint with SEC to issue clear rules for U.S. digital asset companies.

Related: Coinbase continues to seek response from SEC on rulemaking

Although the exchange remains 100% committed to the U.S. market, it recently secured a license in Bermuda to operate outside the U.S. and open the Coinbase International Exchange (CIE), a new derivatives trading platform.

  • Bitpanda to connect Coinbase with banks in Europe

    Man who simply bought some BTC for domestic needs in 2014 and then forgot about it till 2017.
    The dude who got Ethereum in 2017 by misclick and sold it in 2018 “just to try”.
    Lost 1 Florida house in XEM in 2018, Sviatoslav finally decided to trade reasonably and now he is one of the most analytical and data-driven trader in Crypto Industry.
    Has Bachelor Degree of Chinese Interpreter and deep practical experience in competitive niches SEO.

    View all posts

Subscribe to
Crypto Ping Pong Digest

Trash style news. You will definitely like

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker