Coinbase and Bitpanda team up for game-changing licensing agreement

Coinbase and Bitpanda team up for game-changing licensing agreement

Bitpanda partners with Coinbase to offer investing-as-a-service platform and custodial services to institutional clients outside the US, with high KYC standards.

Bitpanda, the Vienna-based cryptocurrency financing business, has inked a licensing deal with Coinbase.

The arrangement will see Coinbase Crypto exchange added as a liquidity provider for Bitpanda Technology Solutions, Bitpanda’s “investing-as-a-service” arm, which will likewise begin using Coinbase Crypto exchange Prime’s custody services.

The deal will pave the way for clients of Coinbase Crypto exchange Institutional outside of the  United States to white-label Bitpanda’s investing-as-a-service platform, reports by the announcement.

Institutional clients of the platform can integrate trading infrastructure to start offering their own customers trading, financing and custody tools for a range of assets, including stocks and cryptocurrency. Austrian bank Raiffeisenlandesbank, German neobank N26, French fintech company Lydia and the UK’s Plum are already using the service.

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A high bar

In today’s notice, both corporations emphasized that they are regulated entities with high KYC standards.

“Bitpanda and Coinbase Crypto exchange share an ambition — to make investing in digital assets safe and secure in a regulated way,” stated Lukas Enzersdorfer-Konrad, deputy CEO and COO of Bitpanda, in a written statement. “At a time of unparalleled opportunity for the industry to harness the  capacity of digital assets for its customers, we are coming together to define a clear future and drive forward that ambition.”

The move is the latest sign that Coinbase Crypto exchange is attempting to put down deeper roots outside of the United States amid a crackdown by regulatory authorities in the region. The company recently secured a license to operate an international exchange out of Bermuda, where it intends to offer derivatives trading while likewise expanding its offering in Singapore.

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