This Bank Opens Crypto Trading Services For Retail Customers!

Raiffeisen Bank presents crypto trading services on its application. (Photo; Doc. FinTimes)

JAKARTA - One of Austria's leading banks, Raiffeisen Bank International, plans to provide crypto trading services for retail customers. In order to provide optimal crypto trading services, the bank cooperates with the crypto asset trading platform Bitpanda.

The plan, this collaboration will present various investment options related to crypto assets to customers. Raiffeisen Bank, with 17.8 billion users in Europe, intends to expand its services in response to the growing trend of digital assets in countries that have clearly discussed crypto regulation.

Head of Bank Raiffeisen Innovation, Chadha, explained that this new service is intended for customers who are interested in accessing crypto markets and investing in small amounts. According to Chadha, the first service will be presented to small-scale customers who can invest at least one euro. This will be implemented in the state capital Vienna.

Customers Can Trading Crypto In The Bank Application

Furthermore, Cadha explained that crypto trading services will be accessible to customers through bank applications that are already integrated with the Bitpanda crypto trading platform. That way, retail customers can buy crypto assets such as Bitcoin (BTC) and Ethereum (ETH).

"Customers can use their mobile devices to log into Bitpanda via the Raiffeisen application. This experience will feel familiar, so confirming that trading will work exactly like bank transfers from one account to another with the same security that customers often feel," said Chadha.

The collaboration between Raiffesein Bank and Bitpanda further strengthens the cooperation of financial institutions such as banks with crypto exchange platforms. This bank has shown its interest in technology underlying crypto, blockchain. In 2020, the Austrian bank has started the development of a national currency tokenization platform by utilizing blockchain technology.