As part of the collaboration, Bitpanda will incorporate Coinbase Exchange into its roster of authorized liquidity providers.
Vienna-based cryptocurrency investment company Bitpanda has finalized a licensing agreement with Coinbase, making Coinbase a liquidity provider for Bitpanda Technology Solutions.
According to the announcement, the collaboration between both entities will enable “Coinbase to offer one of the most scalable Investing-as-a-Service infrastructures to their institutional clients, such as banks and financial institutions outside of the United States.”
This strategic partnership will allow Coinbase to provide its institutional clients outside the U.S. 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 grants institutions the ability to leverage Bitpanda’s regulatory licenses and KYC-as-a-service to streamline their entry into the European market while maintaining their own brand identity.
Eric Demuth, the co-founder and co-CEO of Bitpanda, shared on Twitter that the deal was forged on the basis of a shared vision for the future of digital assets and a mutual commitment to trust, transparency and security.
In light of the regulatory challenges Coinbase continues to face in the U.S., the cryptocurrency exchange is making a bid to expand beyond the United States. On May 18, Coinbase launched a zero-trading-fee subscription service known as “Coinbase One,” with plans to roll it out across 35 countries.
Additionally, on May 2, Coinbase officially announced the introduction of the Coinbase International Exchange (CIE), a new institutional platform designed for crypto derivatives trading.