In the USA, the approval of Bitcoin funds led to an influx of fresh capital into the cryptocurrency market. However, in Europe, it is the regulation by the EU Commission that is making cryptocurrency more interesting for new investor groups. The clarity provided by the regulations helps banks deal with this asset class and open up new customer groups, enabling customers to easily invest in cryptocurrencies through apps offered by financial institutions.
Bitpanda, a leading cryptocurrency platform, is collaborating with various financial institutions to provide its investment infrastructure. Partnerships with banks like N26, RLB NÖ-Wien, and Landesbank Baden-Württemberg (LBBW) are expanding the reach of cryptocurrencies to both private and corporate customers. With 4.5 million users on its platform, Bitpanda sees the potential to reach 20 million new customers through these collaborations.
There is a growing interest in investing in cryptocurrencies among private investors, as evidenced by the surge in new customers on Bitpanda’s platform. Despite the recent market turbulence and Bitcoin price fluctuations, the company remains profitable and anticipates significant growth in the cryptocurrency sector this year. With surveys showing that around 10% of the Austrian population invests in cryptocurrencies, Bitpanda is well positioned to capitalize on this growing trend.
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