Summary
Cryptocurrency exchanges Bitpanda and Coinbase are partnering to offer investing services for institutional clients outside the US. Coinbase will use Bitpanda Technology Solutions to provide scalable Investing-as-a-Service infrastructure for banks outside America, while Bitpanda will add Coinbase Exchange to its approved liquidity providers network. The partnership will also let institutions leverage Bitpanda’s regulatory licences and know-your-customer-as-a-service to speed up their go-to-market time across Europe. Austria-based Bitpanda has registration in Spain, France, Germany, Italy and appointments with the UK’s Financial Conduct Authority. Coinbase has recently locked horns with US securities rulemakers and hinted it could leave the US.
Coinbase, the leading cryptocurrency exchange in the United States, has announced its partnership with Bitpanda, a European cryptocurrency trading platform, to expand its services in Europe.
The strategic partnership between Coinbase and Bitpanda aims to offer more services and features to users in Europe, such as new trading pairs and the ability to use local currencies for trading. This will allow local customers to easily buy and trade digital currencies, which is a significant step towards mainstream adoption of cryptocurrencies.
Coinbase will integrate with Bitpanda’s multi-service platform to leverage its user base, reputation, and market position in the European market. Bitpanda, in turn, will benefit from Coinbase’s extensive customer base and experience in the crypto world.
The partnership will enable Coinbase to expand its reach in Europe, where Bitpanda is currently one of the leading cryptocurrency exchanges. By strategically collaborating with Bitpanda, Coinbase can establish a sturdy foothold in Europe’s market, which has been the company’s goal.
Coinbase and Bitpanda will keep user data separate, and the two companies will still operate independently. However, the two firms will share customers’ verification information as per the regulatory requirements.
The partnership will benefit European customers, as they can now access a broader range of services and digital assets from one platform and enjoy competitive prices and lower trading fees. The partnership will also enhance the security of digital assets, uphold the regulations and shield against fraudsters.
In conclusion, the collaboration between Coinbase and Bitpanda will unlock additional opportunities for both digital asset exchanges in Europe, thereby creating more extensive choices for customers in the region, leading to increased financial freedom.
Original Source: www.financemagnates.com
