Austrian Bank Raiffeisen to Launch Crypto Trading Services in Partnership with Bitpanda

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Raiffeisen Bank, one of Austria’s oldest and wealthiest banking institutions, is set to enter the cryptocurrency market by offering crypto trading services to its 17.8 million customers. The bank, with over $215 billion in assets under management, will partner with Bitpanda cryptocurrency exchange to provide these services. Starting at the end of January 2024, retail customers in Vienna will be able to access the crypto services through the Raiffeisen app. The move comes as European countries prepare to implement the Markets in Crypto-Asset regulatory framework. Raiffeisen aims to ensure sustainable growth by expanding its crypto trading services to other markets. The partnership with Bitpanda will enable the bank to offer seamless trading of popular cryptocurrencies like Bitcoin, Ethereum, and XRP. This move signifies the growing importance of digital assets in the global financial market and the need for traditional banks to adapt to the changing landscape.

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