The U.S. crypto exchange Coinbase is under pressure in its home market USA. Not only the crypto crash in 2022 but, above all, the legal dispute with the influential U.S. Securities and Exchange Commission (SEC) is putting pressure on the company. Now, the European market, which will be regulated by MiCA in 2024, is increasingly on Coinbase radar. It plans to cooperate with the Austrian crypto player Bitpanda in the European market.
Bitpanda and Coinbase announced a cooperation of a special kind. This is primarily about the fact that Bitpanda, or its tech division Bitpanda Technology Solutions (BTS), launched at the beginning of 2023, has found a new distribution partner in Coinbase.
The arrangement will see Coinbase added as a liquidity provider for Bitpanda Technology Solutions, Bitpanda’s “investing-as-a-service” arm, which will also begin using Coinbase Prime’s custody services.
The deal will pave the way for clients of Coinbase Institutional outside of the United States to white-label Bitpanda’s investing-as-a-service platform, according to the announcement.
“Through Bitpanda Technology Solutions, Coinbase can now offer its institutional clients a flexible and scalable 24/7 trading infrastructure that can be integrated in as little as 3 months,” it said in a release. Bitpanda has increasingly positioned itself as a SaaS provider in recent months and partnered with banking-as-a-service providers Mambu and Visa, among others.
