Bitpanda Unveils Bitpanda Wealth, an Institutional-Grade Crypto Trading Platform
Summary:
Austrian fintech firm Bitpanda has launched Bitpanda Wealth, an institutional-grade cryptocurrency trading platform, to meet the rising institutional crypto demand in Europe. The platform, built on an infrastructure trusted by leading European banks, is designed to serve high-net-worth individuals, family offices, external asset managers, and corporate treasuries. The launch follows successful projects like Bitpanda Pro, and adds to Bitpanda's portfolio of secured services across multiple European jurisdictions.
In response to the increasing need for institutional cryptocurrency services in Europe, Austrian fintech heavyweight Bitpanda has unveiled an institutional-level crypto trading platform. Founded in 2014, Bitpanda is a renowned cryptocurrency broker and has now introduced Bitpanda Wealth, aimed at serving the needs of high-net-worth individuals, corporate treasuries, external asset managers, and family offices.
On January 30, Bitpanda announced this move, stating that the platform for institutional-grade trading relies on the infrastructure that several leading European banks have confidence in. Bitpanda Wealth offers a range of services to simplify the crypto investment process. It provides management, reporting services, leveraged products, exchange-traded funds, commodities, and other assets.
Eric Demuth, Bitpanda co-founder and CEO, voiced to Cointelegraph about Bitpanda's new focus on an European sector that appears underserved. He acknowledged the significant interest in this area and the deficiency of adequate solutions. Bitpanda has interacted with an array of private banks and wealthy clients who have expressed a need for an exclusive service.
Bitpanda’s proprietary custody solution, Bitpanda Custody, is the foundation for the newly launched institutional platform. As per Demuth, Bitpanda Custody uses cold storage to ensure the safety of clients' assets. Widely regarded as one of the safest methods for storing private keys, cold storage cuts off the keys from the internet, thus decreasing the possibility of security breaches and hacking attempts dramatically.
Furthermore, Bitpanda's institutional-grade platform, Bitpanda Wealth, is not their first endeavour catered towards institutions. Previously, Bitpanda Pro was launched as a brokerage service and trading desk in 2019, but in 2021, after a successful 30 million euros Series A round, it was separated from Bitpanda and rebranded as One Trading.
Bitpanda, as an influential crypto firm in Europe, has been actively liaising with domestic regulators to obtain the required licenses for its services. In 2023, the firm was licensed as a virtual asset service provider in Norway, adding to the existing licenses in several European regions including Austria, Germany, France, Czechia, and Sweden. Furthermore, in 2023, Bitpanda partnered with Raiffeisen Bank’s Raiffeisenlandesbank Niederösterreich-Wien to initiate crypto trading services.
Published At
1/30/2024 4:01:25 PM
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