Bitpanda, the Austria-based crypto exchange platform, and first tech unicorn, has partnered with the French mobile payments service providing app Lydia to provide the latter’s 5.5 million users the ability to invest in cryptocurrencies.
On Monday, the exchange platform announced that its digital asset investment product has now fully integrated Lydia’s payment app to enable Lydia customers to trade more than 170 virtual assets from crypto tokens to fractional stocks, ETFs, and precious metals with zero commission. The announcement revealed that the transactions would be executed via Bitpanda.
The tech unicorn has been attracting Europeans by expanding its presence in the region. As TheCoinRise reported in October, the firm announced its plans to collaborate with Fabrick to offer digital asset trading services to Italian banks and fintech. The same month brought another big news to the company as it hired JPMorgan’s former executive Joshua Barraclough as its new CEO to intensify the exchange’s growth in Europe.
Bitpanda will take help of Lydia for building solid foundation
Co-founder and co-CEO of the advanced platform, Eric Demuth, said this partnership with Lydia is fully under the company’s mission to bring digital assets into mainstream adoption including improved investment literacy in Europe. He added that since Bitpanda has been registered under the financial markets authority (AMF) since December 2020, Lydia will help the company in achieving its goals in France.
Demuth further stated:
“France is a key market for Bitpanda, and this is why we are currently opening up a local office in Paris and building a local team to own the growth in the market.”
Before this, the crypto exchange giant Binance funded a research and development initiative with $116 million as an initiative to help in the adoption of the crypto industry in France.
Lydia was founded in 2013 and, as per the report by TechCrunch, raised $131 million in two funding rounds in 2020.