Crypto Exchange Bitpanda Expands Austrian Presence With Raiffeisen Bank Partnership

As a researcher with experience in the crypto industry, I’m excited about Bitpanda’s recent expansion moves. The partnership with Raiffeisen Bank to offer cryptocurrencies at 55 bank branches across Austria is an excellent development for crypto adoption in Europe. This strategic move leverages Raiffeisen’s extensive network, making it more accessible and convenient for Austrian customers to invest in digital assets.

Bitpanda, the European cryptocurrency exchange based in Austria, announced an expansion of its collaboration with Raiffeisen Bank’s Vienna branch on March 2nd. This partnership now enables customers to purchase crypto assets at 55 Raiffeisen bank locations spread across the country.

This week, Bitpanda announced the opening of its first international office in Dubai, marking the United Arab Emirates as its initial expansion destination beyond Europe.

A well-defined regulatory structure is indispensable for crypto businesses, and those places that can provide such certainty will undoubtedly be at the forefront of the digital asset industry. For instance, Europe is moving ahead with the Market in Crypto Assets (MiCA) regulation set to roll out this year. The UAE has taken an early lead by establishing its Virtual Assets Regulatory Authority (VARA).

Lukas Konrad, Bitpanda’s deputy CEO, shares that the European Union’s commitment to regulatory clarity is leading to increased adoption. For instance, the partnership with Raiffeisen, initiated several months ago for customers in Vienna, has experienced a 10% adoption rate. Most new investors have been purchasing established cryptocurrencies such as bitcoin and Ethereum tokens.

As a researcher examining the global crypto landscape, I’ve discovered that Europe holds a significant advantage in this domain due to its clearly defined regulatory framework, effective from January 2025. Similar regulatory clarity exists in the Dubai and Abu Dhabi regions. However, in the United States, such regulatory certainty is yet to materialize, leading to apprehension among entities like banks. In contrast, the UAE embraces this regulatory transparency.