Coinbase Finance Integrates Bitpanda Technology Solutions
THURSDAY, Coinbase and Bitpanda have formalized the partnershipfor the American platform to provide liquidity for the “Technology Solutions” product of the Austrian exchange:
As Bitpanda explained, This agreement will be beneficial to both parties :
“As part of the agreement, Bitpanda will add Coinbase Exchange to its network of authorized liquidity providers, enabling institutions to use Bitpanda’s extensive set of regulatory licenses and KYC-as-a-service to accelerate their time to market across Europe. . »
Bitpanda Technology Solutions is an Investment-as-a-Service (IaaS) platform, which means it offers white label investment solutions for other institutional clients. He is the partner of Lydia and N26 for their cryptocurrency related services.
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Way to increase Coinbase’s presence in Europe
These last months, Coinbase has both ways. On the one hand, the company is trying to convince the American regulators to establish an open regulatory system, which is not easy, and on the other hand, it is changing its operations at the international level so that it is no longer the case. dependent on the United States.
Time Bitpanda already has a strong base in Europe at the regulatory levelfor example through its registration as a digital asset service provider (PSAN) in France, Coinbase will be able to benefit.
Indeed, thanks to this agreement, the exchange will be able to refer its institutional clients to Bitpanda Technology Solutions, which provides liquidity, thus creating a partnership between the two companies.
This partnership is interesting, because with more liquidity, Bitpanda can reach bigger players, such as commercial banks that want to provide services related to cryptocurrencies, thus speeding up mainstream adoption.
However, it will be necessary to qualify, adding that by multiplying other trusted third parties for the same service, this increases the risk of infection in the event of a problem. We have seen this time and time again, especially with Gemini’s Earn product, affected by the bankruptcy of Genesis, itself affected by FTX.
👉 Also in the news – Digital Currency Group is shutting down TradeBlock, its cryptocurrency trading platform
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