American cryptocurrency exchange, Coinbase, has announced a new partnership with Austrian crypto exchange and trading platform Bitpanda to enable the connection of America’s largest exchange with European banks. The partnership will allow Coinbase to use Bitpanda’s business infrastructure layer to connect directly to banks and fintech firms, as it expands overseas following regulatory pressures in the US. Bitpanda and Coinbase share the goal of making investing in digital assets safe and secure in a regulated manner. Additionally, Coinbase will become a liquidity provider for Bitpanda Technology Solutions (BTC), enabling institutional clients to integrate trading infrastructure and offer their own clients crypto investment and custody tools. Several banks, including the Austrian Raiffeisenlandesbank, German neobank N26, the French fintech firm Lydia, and UK investment firm Plum, are already using the service. With the rollout of Europe’s MiCA regulations, banks are likely to offer crypto services to customers and are keen to pursue the business they are missing out on when it comes to investment in digital assets. Coinbase has announced its intention to expand overseas to meet this need. Currently, the crypto market outlook appears bleak as total capitalisation fell 3.3% to $1.14tn, while Bitcoin and Ethereum also recorded a decline, with Bitcoin falling to $26,068, and Ethereum down to $1,778.
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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