Two established crypto exchanges, Bitpanda and Coinbase, have entered a mutually beneficial partnership. Coinbase will use Bitpanda Technology Solutions to offer services to institutional clients outside of the United States, while Bitpanda will add Coinbase Exchange to its network of approved liquidity providers.
Coinbase and Bitpanda Inks Strategic Partnership
Announced on Thursday, the collaboration 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."
The partnership will also provide "institutions the ability to leverage Bitpanda's vast set of regulatory licences and KYC-as-a-service to speed up their go-to-market time across Europe, all with the look and feel of their own brand — their design, our technology."
Headquartered in Austria, Bitpanda was founded in 2014 and now has become a prominent European crypto trading venue. Apart from its home country, the exchange is also regulated in Spain, France, Germany, Italy, and a few other European countries.
In addition, the exchange entered the United Kingdom last year, acquiring London-based Trustology, a regulated institutional cryptocurrency custodian wallet provider. It rebranded that FCA-regulated operation to Bitpanda Custody.
Also, Bitpanda registered itself with the UK's FCA as a crypto exchange, which is mandatory for any crypto business in the country. However, it is yet to offer exchange services to UK residents.
A White-Label Crypto Service?
"Since launching our innovative Investment-as-a-Service (IaaS) solution, Bitpanda Technology Solutions, we've gained the trust of leading fintechs, traditional banks and online platforms to bring an easy and swift route to meeting the increasing demand for modern investing solutions," the announcement stated.
Coinbase, a US-listed cryptocurrency exchange, is accelerating its European presence when it locked horns with the securities market regulator in the US. The exchange is expecting enforcement action again following a Wells Notice by the Securities and Exchange Commission. However, Coinbase dragged the SEC to court for not clarifying the crypto-rule-making process.
Earlier this month, Coinbase launched a derivatives exchange outside the US. Furthermore, it received a Bermuda license earlier this year following the exchange's CEO, Brian Armstrong, hint that Coinbase could leave the US.
