According to BitPanda chief operating officer Lukas Enzersdorfer-Konrad, despite the crisis in cryptocurrency, banks still want to be able to offer cryptocurrency to customers.
He added that this is especially relevant in Europe now that the European Parliament has approved a bill on the regulation of cryptocurrencies in the European Union (MiCA), which allows for clear standards for the industry and protects cryptocurrency investors;
As part of the partnership, Coinbase will use Bitpanda Technology Solutions’ infrastructure to connect directly with banks and fintech companies.
“Coinbase does not yet have the level of infrastructure that can help partners integrate and offer cryptocurrency transactions to customers,” explained Enzersdorfer-Conrad.
Bitpanda is already working with industry giants such as Austria’s Raiffeisenlandesbank, European mobile bank N26, French financial app Lydia, British fintech Plum and Italian mobile bank Hype.
“Banks will be able to see data on their payment transactions and how much of their customers’ money goes to cryptocurrency companies,” Enzersdorfer-Conrad added.
Bitpanda recently said it was going to invest $10 million to create a special unit for artificial intelligence development.
The platform, which will be called Bitpanda.ai, will focus on creating and providing advanced products based on investments and AI itself.
In April it became known that the Vienna subdivision of Raiffeisen Bank in cooperation with Bitpanda is going to provide its clients with services of cryptocurrency trading.