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Vienna-based cryptocurrency investment firm Bitpanda has entered into a licensing agreement with Coinbase, making Coinbase the liquidity provider for Bitpanda Technology Solutions.
We’re excited to announce that Bitpanda Technology Solutions is collaborating with another industry leader. With Bitpanda Tech, @coinbase will offer a regulated trading infrastructure to their clients like banks and financial institutions outside of the US. pic.twitter.com/leyHChQ3IU
— Bitpanda (@Bitpanda_global) May 25, 2023
According to the announcement, the collaboration between the two organizations will enable “Coinbase to offer one of the most scalable Investing as a Service infrastructures to its institutional clients such as banks and financial institutions outside the US.”
This strategic partnership will enable Coinbase to provide its non-US institutional clients with a fully regulated trading infrastructure. Additionally, as part of the agreement, Bitpanda will integrate Coinbase Exchange into its network of approved liquidity providers. This gives institutions the ability to use Bitpanda’s regulatory licenses and KYC as a service to make it easier to enter the European market while maintaining their brand identity.
Eric Demuth, co-founder and co-CEO of Bitpanda, shared on Twitter that the deal came about based on a shared vision for the future of digital assets and a mutual commitment to trust, transparency and security.
From today @Bitpanda_global and @coinbase are going to be partners. 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.… pic.twitter.com/iJj0RWh9bR
— Eric Demuth (@eric_demuth) May 25, 2023
Related: EU-based cryptocurrency exchange Bitpanda receives a cryptocurrency license in Germany
In light of the regulatory challenges Coinbase continues to face in the US, the cryptocurrency exchange is making an attempt to expand beyond the United States. On May 18, Coinbase launched a zero trading fee subscription service known as Coinbase One and plans to roll it out to 35 countries.
In addition, on May 2, Coinbase officially announced the introduction of the Coinbase International Exchange (CIE), a new institutional platform dedicated to cryptocurrency derivatives trading.