Austria's second-largest bank Raiffeisen (RLB NÖW) offers #Bitcoin and #crypto trading to customers as of January 2024 😃The bank will start its crypto services to customers in Vienna in partnership with #Bitpanda.
The idea is to establish a global hub for everything, #cryptocurrency, #blockchain and #Web3. 𝐂𝐨𝐢𝐧𝐝𝐞𝐬𝐤 reports that Austria’s 𝐑𝐚𝐢𝐟𝐟𝐞𝐢𝐬𝐞𝐧𝐥𝐚𝐧𝐝𝐞𝐬𝐛𝐚𝐧𝐤 𝐍𝐢𝐞𝐝𝐞𝐫ö𝐬𝐭𝐞𝐫𝐫𝐞𝐢𝐜𝐡-𝐖𝐢𝐞𝐧 will roll out cryptocurrency trading services to retail customers by the end of January 2024.
The service will initially be offered to customers in Vienna, where the 97-year-old bank is headquartered, and be provided in association with cryptocurrency exchange Bitpanda, which signed a letter of intent with the bank earlier this year.
“We are starting in Vienna, where about a quarter of Austria's population lives,” Curt Chadha, the bank’s head of innovation, said in an interview with #Coindesk. Customers shall use their mobile device to enter Bitpanda through the Raiffeisen app.
The experience will be familiar, so confirming a trade will work exactly like an account-to-account bank transfer.The move by the group, which has some €274 billion in assets and 17.8 million customers across Europe, is another sign of crypto adoption ramping up.
Earlier this week, one of Germany's largest bank #Commerzbank announced that they received a crypto custody licence of German regulator BaFin.
This is GREAT NEWS! It appears that prominent players view Bitcoin and other cryptocurrency as a viable new asset form that is ready to be offered to banking clients. And Raiffeisen obviously wants to find themselves on the right side of history and enter the space of #blockchain technology and #web3.
It's worth mentioning that #Raiffeisen
✅ organised a #blockchain hackathon in March 2023, with 8 teams participating. Winning team headed coded a #Nostr/damus.io based dapp titled "Cash is King" offering a cash delivery service on blockchain, COOL!
✅ Jürgen Schiefer, innovation expert at RBI, recently mentioned in a post, that they are building the bank's own metaverse, through which banking transactions can be processed in the future.🇦🇹
Dear OTHER BANKS in Austria! Feeling some crypto FOMO*?
Tell us your crypto story Erste Group Bank AG with your €308 billion in assets! And UniCredit Bank Austria AG €99b, BAWAG Group €44b, HYPO NOE Landesbank für Niederösterreich und Wien AG €34b, Oberbank €27b, Hypo Tirol Bank AG €12b, easybank €8.9b, Bank Gutmann, €7.9b. Any plans to embrace crypto?
*Fear Of Missing Out
This is quite #ReturnOnSociety, supports mass adoption of innovative monetary systems 🦋