Austrian cooperative banking company – Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien) – has partnered with Bitpanda to roll out crypto investment services through the latter’s software as a service (SaaS) offering.

With this collaboration, RLB NÖ-Wien has become the first major traditional bank in the European Union to move into digital assets.

Alongside crypto investment, the Austrian company will also focus on the potential implementation of stocks and ETFs, crypto, commodities, as well as precious metals as part of its offering with a budget of as little as one euro. The main aim is to help the bank customers “reach their financial ambitions,” the official press release noted.

Bitpanda CEO Eric Demuth highlighted the complexity and lack of inclusivity in the financial market. The exec, in a statement, said the company intends to simplify the process and make investing accessible to everyone.

(by Chayanika Deka)