From Raiffesen Bank to UBS, several European banks are now banking on cryptocurrencies to diversify their clients’ portfolios.

European banks continue to open up to cryptocurrencies. We are seeing more and more initiatives in Austria and Switzerland to popularize the use among individual customers.

The very innovative Swiss bank Raiffaisen Bank, for example, has just signed a big deal by extending its partnership with Bitpanda. The crypto exchange allows certain bank clients to be able to directly invest in cryptocurrencies via its integrated services, at the very heart of its partner bank’s application. While the initiative only concerned the Vienna region, all of Raiffaisen’s individual customers will now be able to buy and exchange cryptocurrencies with the opening of the service to the regions of Burgenland and Lower Austria.

UBS pushes its pawns

This is a nice coup for the largest direct crypto banking initiative in Europe and a confirmation that Bitpanda is expanding its reach across the continent with its 4 million customers already in Europe. The crypto exchange already has the approvals and authorizations to operate in more than 8 European countries, including France.

Likewise, on the Swiss side, UBS is turning the spotlight on cryptocurrencies by becoming one of the main banking clients in Europe of Blackrock’s bitcoin ETF: there are 3,600 shares valued at $124,000 at the moment. This is also confirmation of real demand from the bank’s individual and institutional clients, which allows them to get into cryptocurrencies via regulated instruments. It seems that UBS is pushing its pawns to be first to the market at this level.

Antoine Larigaudrie with Pauline Armandet

Source: https://www.bfmtv.com/crypto/la-suisse-et-l-autriche-s-interessent-de-plus-en-plus-aux-cryptomonnaies_AV-202405140366.html



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