Bitpanda Expands its Cryptocurrency Operations and Enters the UAE Market

Bitpanda, the leading digital asset investment platform in Europe, has announced an expansion of its partnership with the Raiffeisen Bank International (RBI) to provide cryptocurrency services to bank customers in 55 branches across the country. This move comes just a week after Bitpanda announced the opening of its office in Dubai, making it their first location outside of Europe.

This expansion is largely attributed to clear regulatory frameworks supported by both Austria and the United Arab Emirates. The proposed Markets in Crypto Assets (MiCA) in Europe, set to be implemented this year, provide a conducive environment for the growth of the cryptocurrency sector. Similarly, the United Arab Emirates has solidified its position as a leading hub for digital assets through the Virtual Asset Regulatory Authority (VARA).

Lukas Enzersdorfer-Konrad, Bitpanda’s COO, pointed out that regulatory clarity has been a key driver in fostering cryptocurrency adoption. Bitpanda’s partnership with Raiffeisen, which began a few months ago serving customers in Vienna, has seen a 10% adoption rate, with new investors primarily purchasing high-value cryptocurrencies like Bitcoin and Ethereum.

This success is partly attributed to Bitpanda’s user-friendly platform, which allows users to easily buy and sell a variety of cryptocurrencies. Additionally, Bitpanda offers a range of investment services, including automatic savings plans, making it an attractive option for investors looking to invest in cryptocurrencies over the long term.

With the continued growth of the cryptocurrency market, Bitpanda is well-positioned to capitalize on this trend, thanks to its focus on regulatory compliance and providing user-friendly products and services.

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