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Austria-based Raiffeisen Bank International is preparing to offer cryptocurrency buying and selling services to retail customers in Vienna in cooperation with Bitpanda. The bank, which has a history of 97 years and caters to a wide customer base in Vienna, plans to start service by the end of January 2024. According to the letter of intent with Bitpanda, customers will be able to access Bitpanda through their mobile devices using the Raiffeisen application.
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Curt Chadha said, “We are starting here because a quarter of the Austrian population lives in Vienna”. “Customers will be able to integrate the transaction confirmation to Bitpanda through the Raiffeisen application, with a familiar experience similar to the security of a bank transfer they are accustomed to.”
This step by the bank is noteworthy given that it has $215 billion in assets. Also, 17.8 billion customers across the European Union and Eastern Europe. Chadha emphasized while other banks generally focus on high-net-worth individuals, Raiffeisen‘s service is aimed at customers who have digital knowledge. This move is seen as an important step taken during a period when the rules are being clarified in regions where the adoption of cryptocurrency is increasing.
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