Home>Business>Raiffeisenlandesbank to launch Bitcoin buying and selling in early 2024

Raiffeisenlandesbank to launch Bitcoin buying and selling in early 2024

The Austrian subsidiary of European lender Raiffeisen Financial institution is getting ready to permit its shoppers to commerce cryptocurrencies like Bitcoin (BTC) within the coming months.

After initially saying its crypto plans in April 2023, Raiffeisen Financial institution’s Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien) is transferring ahead with a crypto rollout in collaboration with the Austrian crypto agency Bitpanda.

RLB NÖ-Wien expects to begin rolling out crypto buying and selling companies in Vienna within the first quarter of 2024, a spokesperson for the financial institution instructed Cointelegraph.

“Raiffeisenlandesbank NÖ-Wien has signed a cooperation settlement with Bitpanda. By way of this cooperation, we plan to supply a lovely digital funding platform early in 2024,” the consultant said, including:

“We now have seen the demand from prospects for straightforward, intuitive, digital funding platforms. Our primary intention to take customer-centric choices has triggered these efforts, which we’re enthusiastic about bringing to market.”

With the crypto rollout, RLB NÖ-Wien customers will achieve entry to all cryptocurrencies offered by the financial institution’s companion Bitpanda, a spokesperson for RLB NÖ-Wien stated.

Bitpanda Deputy CEO Lukas Enzersdorfer-Konrad beforehand instructed Cointelegraph that Raiffeisen’s crypto providing would support the full range of Bitpanda’s digital asset offering, which options greater than 2,500 cryptocurrencies, together with Bitcoin and Ether (ETH). The exec additionally stated Raiffeisen was keen to make the crypto buying and selling service obtainable to all buyer segments, together with retail, non-public banking and company prospects.

“As we introduced in April, the tip purpose is to make our supply obtainable to all RLB NÖ-Wien prospects. Nonetheless, the rollout will start with their prospects in Vienna,” a spokesperson for Bitpanda famous.

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Raiffeisen’s transfer into crypto is one other signal of Bitcoin’s rising adoption, along with firms like Ferrari starting accepting cryptocurrency as payment in October 2023. Raiffeisen Financial institution is likely one of the oldest banks in Europe, with the primary Raiffeisen financial institution launching in Austria’s Mühldorf in 1886. As of 30 June, 2023, the Raiffeisen Group had 247 billion Swiss francs ($280 billion) in property below administration and 219 billion CHF ($248 billion) in shopper loans.

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