Coinbase, the largest US crypto platform, has struck a license agreement with Bitpanda, a Vienna-based company, to expand its Digital Asset Services globally. Further, the arrangement will see Coinbase added as a liquidity provider for Bitpanda Technology Solutions, Bitpanda’s ‘’investing-as-service’’ arm. Notably, it will commence using Coinbase Prime’s Custody services.
The institutional clients of the platform can integrate trading infrastructure to begin offering their customers trading, investment, and custody tools for a range of assets, including stocks and crypto. Austrian bank Raiffeisenlandesbank, German neobank N26, French fintech firm Lydia and the UK’s Plum are already using the service.
Nonetheless, Coinbase’s liquidity and Coinbase Prime’s custody solution will support all operations. Further, both firms have emphasized that they are regulated entities with high KYC standards.
Coinbase: No Introduction Needed
As the leading figure in the US’s crypto ecosystem, Coinbase is renowned for its market-leading liquidity and innovative blockchain technology. Like Bitpanda, Coinbase believes crypto and blockchain technology can increase economic freedom and opportunities worldwide.
This drives us to understand why this partnership makes perfect sense. Both companies share a common goal of making investments in digital assets safe, secure, and simple — all in a regulated way. Through this partnership, Coinbase will introduce Bitpanda to its institutional clients, enabling them to leverage a digital trading solution within Europe that embodies these fundamental principles. This marks a crucial step towards opening digital asset investing to various customers.
Bitpanda Executive on The Partnership
Giving his remarks concerning the partnership, Lukas Enzersdorfer-Konrad, deputy CEO and COO of Bitpanda, noted :
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.
Coinbase’s European effort comes just days after the European Parliament approved the much-anticipated Markets in Crypto-Assets (MiCA) regulatory framework for its crypto industry. Aside from relaxing rules in the European market, Coinbase attempts to establish deeper roots outside the United States despite a regulatory crackdown.
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