Bitpanda to Include Coinbase in its Roster of Liquidity Providers: Details
- Bitpanda has announced its partnership with crypto exchange Coinbase to “build the future of digital investing.”
- Coinbase is now an authorized liquidity provider for the firm via a licensing agreement signed between the two firms.
- Coinbase can offer “a fully regulated, flexible, and scaling 24/7 trading infrastructure” to its institutional clients outside the US.
- The US-based crypto exchange will be able to retain its brand name, while Bitpanda will provide technology and design support.
The largest crypto exchange in the United States continues to make friends and expand its empire amid the regulatory uncertainty that the US authorities have created in the crypto industry. Interestingly, the leading exchange has announced a strategic partnership with Bitpanda, an Austrian company headquartered in Vienna that provides investors the option to invest in crypto assets, as well as commodities, stocks, and exchange-traded funds. The two firms will work together for the foreseeable future, while Coinbase has been included in the roster of authorized liquidity providers for the Austrian firm.
As per the announcement on May 25, Coinbase is now an authorized liquidity provider for Bitpanda Technology Solutions via a licensing agreement that was signed between the two firms.
“We’re thrilled to announce a new introducer partnership between Bitpanda Technology Solutions and Coinbase,” read the announcement from the Vienna-based firm, while adding:
“This collaboration between two industry leaders will enable Coinbase to offer one of the most scalable Investing-as-a-Service infrastructures to their institutional clients, such as banks and financial institutions outside of the United States.”
The two companies aim to “build the future of digital investing,” and the agreement will allow Coinbase to “confidently” offer “a fully regulated, flexible, and scaling 24/7 trading infrastructure” to its institutional clients present outside the US. Bitpanda noted that this provides the US-based crypto exchange with a new European investment solution that would match the company’s safety and security standards.
By setting up Coinbase as a liquidity provider, Bitpanda will allow the exchange’s institutional clients outside of the US to leverage the Vienna-based firm’s “vast set of regulatory licenses and KYC-as-a-service to speed up their go-to-market time across Europe,” all combined with Coinbase’s brand name and design along with Bitpanda’s technology.
“Through this partnership, Coinbase will introduce Bitpanda to its institutional clients, enabling them to leverage a digital trading solution within Europe that embodies these fundamental principles. This marks a crucial next step towards opening up digital asset investing to millions more customers,” stated the announcement.
The co-founder and co-CEO of Bitpanda, Eric Demuth, shared these positive developments via his official Twitter account. He noted that “this deal was based around our shared vision for the future of digital assets, and our shared values of trust, transparency, and security. Exactly the type of collaboration our industry needs more of,” he wrote while tagging Brian Armstrong, the CEO of Coinbase, in his post.
As reported earlier by BitcoinWisdom, last year Bitpanda collaborated with Bosonic Network, a provider of decentralized financial market infrastructure, enabling its UK arm to meet its institutional clients’ demand for a UK-based crypto custodian.
Furthermore, the Vienna-based firm also announced later last year that it had acquired a Crypto Custody and Proprietary Trading license from the Federal Financial Supervisory Authority, or BaFin, the financial regulatory authority for Germany. The German subsidiary of Bitpanda has become one of the few crypto firms that have been granted this license from BaFin and this puts it ahead of several competitors.
Bitpanda has also acquired regulatory licenses in Austria, France, Italy, and Sweden and recently acquired an operating license in Spain. It is one of the few exchanges that has survived the crypto winter and is now trying to make it big in the industry.