The Austrian subsidiary of European loan provider Raiffeisen Bank is getting ready to allow its clients to trade cryptocurrencies like Bitcoin (BTC) within the coming several weeks.
After initially announcing its crypto plans in April 2023, Raiffeisen Bank’s Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien) is continuing to move forward having a crypto rollout together with the Austrian crypto firm Bitpanda.
RLB NÖ-Wien expects to begin moving out crypto buying and selling services in Vienna within the first quarter of 2024, a spokesperson for that bank told Cointelegraph.
“Raiffeisenlandesbank NÖ-Wien has signed a cooperation agreement with Bitpanda. Via this cooperation, we intend to present an attractive digital investment platform at the start of 2024,” the representative mentioned, adding:
“We have experienced the interest for simple, intuitive, digital investment platforms. Our primary intention to consider customer-centric decisions has triggered these efforts, which we’re looking forward to getting to promote.”
Using the crypto rollout, RLB NÖ-Wien users will get access to all cryptocurrencies supplied by the bank’s partner Bitpanda, the spokesperson stated.
Bitpanda Deputy Chief executive officer Lukas Enzersdorfer-Konrad formerly told Cointelegraph that Raiffeisen’s crypto offering would offer the full-range of Bitpanda’s digital asset choices, which feature greater than 2,500 cryptocurrencies, including Bitcoin and Ether (ETH). The professional also stated Raiffeisen was willing to help make the crypto buying and selling service open to all customer segments, including retail, private banking and company customers.
“As we announced in April, the finish goal would be to make our offer open to all RLB NÖ-Wien customers. However, the rollout will start using their customers in Vienna,” a spokesperson for Bitpanda noted.
Related: Top Swiss bank launches Bitcoin and Ether buying and selling with SEBA
Raiffeisen’s transfer to crypto is yet another manifestation of Bitcoin’s growing adoption, with the likes of Ferrari beginning to simply accept cryptocurrency as payment in October 2023. Raiffeisen Bank is among the earliest banks in Europe, using the first Raiffeisen bank launching in Austria’s Mühldorf in 1886. By 30 June 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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