In the world of cryptocurrency, announcements about partnerships occasionally surface. Today, there is news of a partnership from a cryptocurrency exchange. Bitpanda has decided to expand its collaboration with the Austrian credit institution Raiffeisen’s Vienna-based unit. This expansion enabled the provision of crypto services across 55 bank branches in Austria.
Partnership Aims to Strengthen Nationwide Crypto Access
Bitpanda’s crypto offerings, in collaboration with Raiffeisen Bank, have expanded from its roots in Vienna to cover 55 bank branches throughout Austria. This strategic expansion aims to reach a wider customer base for Bitpanda Raiffeisen Bank.
Earlier this week, Bitpanda made a significant move by opening an office in Dubai, marking its first expansion beyond European borders. This decision reflects Bitpanda’s desire to enter emerging markets and establish a global presence in the cryptocurrency field. The choice of the UAE for this expansion is due to the region’s favorable regulatory environment.
Legal Clarity Emphasized for Sustainable Growth
For the sustainable growth of crypto businesses, a clear regulatory framework is very important. In Europe, the MiCA regime planned for implementation this year promises much-needed clarity and stability for market participants. Similarly, the UAE has taken significant steps to provide regulatory clarity through the Crypto Assets Regulatory Authority (VARA), positioning itself as a pioneer in the global crypto environment.
According to Bitpanda’s Deputy CEO Lukas Konrad, legal clarity is a catalyst for crypto adoption. The partnership initiated with Raiffeisen Bank in Vienna a few months ago yielded promising results with a notable 10% adoption rate.
This collaboration enabled new investors to access various cryptocurrencies, including popular assets like Bitcoin and Ethereum. Konrad emphasizes that legal clarity plays a crucial role in fostering trust among investors and institutions, thereby facilitating the mainstream adoption of digital assets.
As seen in this example, countries with legal clarity in the cryptocurrency field provide a more comfortable investment environment for crypto companies. These countries also become a preferred choice. If similar legal clarity is provided in our country, significant capital could be attracted to Turkey.
