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The exchange of bitcoin and other cryptocurrencies Bitpanda, has decided to open the doors of its digital finance infrastructure for FinTechs, traditional banking and online platforms, with the launch of a product White Label or white label.
This type of product allows the exchange, to create offers own digital investment, with the appearance of the brand that decides to acquire it, but based on Bitpanda’s technical infrastructure, according to the platform, on June 7.
Companies that acquire the White Label , may offer encrypted trade , portfolio services for cryptocurrencies and even Bitpanda’s stock feature.
In that regard, the Austria-based exchange, explains that its partners will be able to connect their native finance or banking application to the Bitpanda backend through an application programming interface. cations (API).
«Your users can still interact with the partner interface with which they are familiar. Bitpanda carries out the operations and the establishment of custody of assets in the background, “said the company.
That is, a traditional bank can enter the world of bitcoin and cryptocurrencies, offering digital assets for businesses, although they will also have the opportunity to have wallets and have the functions of a blockchain.
Currently, Bitpanda is one of the leading exchanges in Europe for the purchase and sale of bitcoin, ether, XRP, dash and more than 50 digital assets, including representations of precious metals such as gold, silver, and platinum.
Traditional investors interested in Bitpanda’s White Label
For his part, Orlando Merone, Country Manager of Bitpanda expressed in statements to an Italian media, that several actors of the traditional financial sector who are responding with some interest in the proposal made by the exchange.
«There is still some resistance among traditional banks on cryptocurrencies, but due to the pandemic we noticed a Another sign of change, especially the banking system has begun to collaborate with FinTech partners, instead of seeing them as mere competitors “, added Merone.
The exchange is registered with the Authority of the Austrian Financial Market (FMA) and that of France (AMF) under the PACTE law. They also offer two-factor authentication and work with KPMG, one of the leading financial auditing services.
Bitpanda also offers trading of shares
The growth of the buying and selling company Bitpanda is evidenced in the growth of its offerings such as the White Label or the Wall Street corporate stock purchase service and exchange-traded funds (ETF), reported by CriptoNoticias.
Last April, Bitpanda enabled Bitpanda Stocks Beta , a service available 24 hours a day and seven days a week to buy or sell shares , even when the stock markets are closed.
To start investing, the person must only download the app on their mobile device with Android or iOS operating system. Subsequently, you must follow the system instructions and make a first deposit of at least 25 euros.