Cryptocurrencies have become more interesting for new investors in Europe due to regulatory clarity, which has given banks confidence in dealing with cryptocurrency assets. This has opened up opportunities to attract new customer groups and easily invest in cryptocurrencies through apps offered by financial institutions.
Bitpanda, a leading cryptocurrency platform, is offering its investment infrastructure to financial institutions through its subsidiary Bitcoin Technology Solutions. The company has collaborated with several banks in Germany, including N26, RLB NÖ-Wien, and Landesbank Baden-Württemberg (LBBW), demonstrating the growing interest in cryptocurrency investments among both private and corporate customers. With 4.5 million users on its platform, Bitpanda sees potential for reaching 20 million new customers through bank partnerships across Europe.
Despite recent volatility in the cryptocurrency market and transaction volumes still below peak levels from 2021, there has been a resurgence in interest from private investors due to recent price increases. Surveys show that around 10% of the Austrian population invests in cryptocurrencies, with customers spanning all age groups.
Looking ahead, Bitpanda’s managing director, Lukas Enzersdorfer-Konrad, expects significant growth in the cryptocurrency investment sector this year as major banks also explore opportunities in this space. The company is optimistic about its future prospects and aims to capitalize on the increasing interest in cryptocurrencies among both individual and institutional investors.