Raiffeisenlandesbank Niederosterreich-Wien (RLB NO-Wien), an Austrian cooperative bank founded in 1900, is preparing to introduce cryptocurrency investment services in partnership with Austrian cryptocurrency company Bitpanda.
According to a joint announcement made on April 26, RLB NO-Wien intends to offer a variety of cryptocurrencies to its clients via Bitpanda’s software as a service (SaaS) offering.
Cryptocurrency investments and investment services for equities, exchange-traded funds, precious metals, and commodities will be provided.
Michael Hollerer, the chief executive officer of RLB NO-Wien, stated that the partnership with Bitpanda intends to expand the company’s product line with an innovative, secure element and make it easier for customers to amass wealth.
With a new planned offering, a subsidiary of the significant Austrian banking group Raiffeisen Bank International is entering the cryptocurrency investment market.
Bitpanda co-founder and CEO Eric Demuth (left) and RLB NÖ-Wien CEO Michael Höllerer (right).
The new offer intends to enable customers of RLB NO-Wien to invest in various assets regardless of available capital, permitting investments as low as one euro.
Lukas Enzersdorfer-Konrad, a deputy CEO of Bitpanda, Says RLB NO-Wien intends to make the new trading option available to all customer segments, including retail, private banking, and corporate customers.
Additionally, he stated that RLB NO-Wien and Bitpanda are committed to launching cryptocurrency trading as soon as feasible.
“Thanks to the way we have built Bitpanda Technology Solutions we are able to integrate our infrastructure quickly and safely, and plan to make trading available by the end of the year.”
Enzersdorfer-Konrad also mentioned that RLB NO-Wien’s upcoming new offering would feature the entire spectrum of Bitpanda’s digital asset offering, which includes over 2,500 assets such as Bitcoin and Ethereum.
RLB NO-Wien is a member of the Austrian Raiffeisen Bankengruppe consortium of cooperative banks, and it holds a 22.6% interest in Raiffeisen Bank International (RBI).
As previously reported, RBI has been experimenting with developing digital currency. In 2020, the global Raiffeisen Bank was constructing a blockchain-based infrastructure to tokenize the national currency.
Additionally, the bank is renowned for participating in trade finance initiatives utilizing R3’s Marco Polo blockchain network.