Bitpanda and Coinbase having a Partnership to help European banks offer cryptocurrencies to their customers

Austrian cryptocurrency exchange and trading platform Bitpanda is partnering with Coinbase (COIN) to connect the US-listed giant with European banks looking to offer digital assets to their customers.
The newly announced partnership allows Coinbase to use Bitpanda Technology Solutions, a B2B infrastructure provider, to connect directly with banks and fintechs.
Despite a bearish crypto winter and the asset class's reputational damage from last year's bankruptcies and bankruptcies, banks are keen to offer cryptocurrencies to their customers, says Lukas Enzersdorfer-Konrad, COO of BitPand. This is especially true for Europe after the regulatory framework for crypto-asset markets (MiCA) was passed, he added.
“Coinbase has a spot of liquidity on their exchange and they have a fiat system,” Enzersdorfer-Konrad said in an interview with CoinDesk. “However, they lack the entire middle layer of infrastructure that a partner can integrate and offer to their end customers with cryptocurrencies traded and purchased on the Coinbase exchange and stored on Coinbase Custody.
”Bitpandacrypto connectivity is now available with many banks, neo banks, and fintech platforms such as traditional Austrian lender Raiffeisenlandesbank, European mobile bank N26, and French money app Lydia, UK. Fintech Plum and Italian mobile bank Hype.
"Banks can see data about their payment transactions and the amount of customer funds that have been transferred to crypto companies," said Enzersdorfer-Konrad. "They understand how much business they are losing and how many of their customers would be doing that business if they had enough faith in the process."