Raiffeisen Bank’s Crypto Trading Plans
European lender Raiffeisen Bank’s Austrian subsidiary is getting ready to provide its customers with the opportunity to trade cryptocurrencies such as Bitcoin (BTC) in the upcoming months.
Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien) first announced its crypto plans in April 2023 and is now going ahead with the rollout of its crypto services in collaboration with Austrian crypto firm Bitpanda.
RLB NÖ-Wien anticipates that it will begin offering crypto trading services in Vienna during the first quarter of 2024, a spokesperson for the bank told Cointelegraph.
“Raiffeisenlandesbank NÖ-Wien has signed a cooperation agreement with Bitpanda. Through this partnership, we intend to offer an appealing digital investment platform early in 2024,” the representative stated, adding:
Web 3.0 Crypto Rollout at Raiffeisen Bank
Raiffeisen Bank NÖ-Wien customers can now access a full range of cryptocurrencies offered by partner Bitpanda, the spokesperson said. Bitpanda Deputy CEO Lukas Enzersdorfer-Konrad previously mentioned that Raiffeisen’s crypto offering will feature more than 2,500 digital assets, such as Bitcoin and Ether (ETH). The service is available to retail, private banking, and corporate customers alike.
The rollout of the crypto service began with customers in Vienna, as the spokesperson for Bitpanda noted. This move by Raiffeisen Bank is a sign of Bitcoin’s growing adoption, with companies like Ferrari and other web 3.0 companies to invest in starting to accept cryptocurrency as payment in October 2023.
Raiffeisen Bank is one of the oldest banks in Europe, with the first Raiffeisen bank opening in Austria’s Mühldorf in 1886. As of June 30th, 2023, the Raiffeisen Group had 247 billion Swiss francs ($280 billion) in assets under management and 219 billion CHF ($248 billion) in client loans.
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