Austria's Raiffeisen Bank to Launch Retail Crypto Trading in January

Austria's Raiffeisen Bank will roll out cryptocurrency trading services to retail customers by the end of January 2024.

The service will initially be offered to customers in Vienna, where the 97-year-old bank is headquartered, and be provided in association with cryptocurrency exchange Bitpanda, which signed a letter of intent with the bank earlier this year.

"We are starting in Vienna where about a quarter of Austria's population lives," Curt Chadha, the bank’s head of innovation, said in an interview. "The customer can use their mobile device to enter Bitpanda through the Raiffeisen app. The experience will be familiar, so confirming a trade will work exactly like an account-to-account bank transfer with the same sort of security customers are used to."

The move by the bank is another sign of crypto adoption ramping up, particularly in jurisdictions where clarity around rules is emerging.

Chadha said the service is aimed at customers who are digital savvy, but perhaps only want to make a small investment.

(Source: CoinDesk)