Bitpanda, the Vienna-based cryptocurrency financing business, has inked a licensing deal with Coinbase.
The arrangement will see Coinbaseย Cryptoย exchange added as a liquidity provider for Bitpanda Technology Solutions, Bitpandaโs โinvesting-as-a-serviceโ arm, which will likewise begin using Coinbaseย Cryptoย exchange Primeโs custody services.
The deal will pave the way for clients of Coinbaseย Cryptoย exchange Institutional outside of theย Unitedย States to white-label Bitpandaโs investing-as-a-service platform, reportsย by the announcement.
Institutional clients of the platform can integrate trading infrastructure toย 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 UKโs Plum are already using the service.
A high bar
In todayโs notice, both corporations emphasized that they are regulated entities with high KYC standards.
โBitpanda and Coinbaseย Cryptoย exchange share an ambition โ to make investing in digital assets safe and secure in a regulated way,โ stated Lukas Enzersdorfer-Konrad, deputy CEO and COO of Bitpanda, in a written statement. โAt a time of unparalleled opportunity for the industry to harness theย capacity of digital assets for its customers, we are coming together to define a clear future and drive forward that ambition.โ
The move is the latest sign that Coinbaseย Cryptoย exchange is attemptingย to put down deeper roots outside of the Unitedย States amid a crackdown by regulatoryย authorities in the region. The company recently secured a license to operate an international exchange out of Bermuda, where it intendsย to offer derivatives trading while likewise expanding its offering in Singapore.
