Raiffeisen started cooperation with Bitpanda crypto exchange for the development of digital currencies
Austrian financial conglomerate has entered into cooperation with the Bitpanda cryptocurrency exchange
As part of the partnership, Bitpanda will move Raiffeisen’s stablecoin to an inter-blockchain platform
Previously, the exchange was criticized for its position on Brexit
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Austrian banking group Raiffeisen Bank International partners with crypto exchange Bitpanda as part of a project to create digital currencies
One of the largest Austrian banking groups Raiffeisen Bank International (RBI) has entered into a partnership agreement with the Austrian cryptocurrency exchange Bitpanda. The exchange announced this on its official website.
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As stated in the official announcement, the financial conglomerate and crypto-exchange will focus on the implementation of the working concept of the Pantos inter-blockchain system for stablecoin under the name RBI Coin..
“This [Pantos] is a key way for both inter-blockchain interoperability and for the banking industry as it intends to become independent in the rapidly evolving blockchain technology,” says the announcement..
As a reminder, RBI Coin is a digital solution for interbank and intra-firm payments created by Raiffeisen Bank International.
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Through the partnership with Bitpanda, RBI will become part of the Pantos ecosystem. The exchange hopes that with the help of the Pantos platform, the financial giant will be able to solve the problem of using its products on radically different technological platforms and digital protocols..
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Raiffeisen Bank International’s desire to develop digital money clearly correlates with the international trend towards digitalizing economies. The BeInCrypto editorial staff previously reported that according to a Citigroup top manager, the collapse of financial markets combined with the coronavirus pandemic pushed central banks to a practical study of the digital economy..
It remains to be seen how successful the Bitpanda partnership could be for RBI in the global arena after the exchange publicly commented on the UK’s decision to secede from the EU..
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