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The bank aims to facilitate this through a partnership with Bitpanda, an EU trading platform that supports a host of digital assets, including Bitcoin, Shiba Inu, and XRP.
RLB NÖ-Wien, a regional bank located in Austria and a member of the Raiffeisen Banking Group, is planning to make history as the first traditional bank within the EU to provide its customers the opportunity to invest in digital currencies such as Bitcoin (BTC), Ripple (XRP), Shiba Inu (SHIB), among others.
The regional bank plans to offer its clients the opportunity to invest in Bitcoin, Shiba Inu, and XRP by integrating Bitpanda Technology Solutions, which provides institutions with an Investment-as-a-Service (IaaS) solution. Bitpanda announced the planned partnership in a recent blog release.
In an official statement, RLB NÖ-Wien emphasized the significance of the partnership and revealed that it had signed a letter of intent. The bank stated that it is presently scrutinizing the feasibility and particulars of the collaboration with Bitpanda, and the assessment is expected to conclude by the end of this year.
RLB NÖ-Wien’s clients include over 270,000 distinguished corporations, institutions, and individuals in Lower Austria and Vienna. As a result, this development will greatly boost Shiba Inu and XRP, as it could bolster their adoption rate and significantly increase demand.
Moreover, RLB NÖ-Wien’s integrating digital currencies like BTC, SHIB, and XRP into its investment offerings will likely provide its clients with increased flexibility and diversification opportunities in their investment portfolios. This move indicates a growing trend among traditional financial institutions now beginning to incorporate digital assets into their offerings.
Earlier this month, PostFinance, a leading Swiss financial institution, partnered with Sygnum Bank to offer cryptocurrency investments to its customers. Banking institutions such as Wells Fargo, Bank of America, Morgan Stanley, and Citigroup have also been involved in crypto investments.
Bitpanda Technology Services is already working with German digital bank N26, German cloud banking platform Mambu, UK fintech Plum, Italian neo bank Hype, and more.