BitPanda to Partner with Fabrick to provide Digital Asset Trading Services

Cryptocurrency exchange, Bitpanda, has announced it will collaborate with Fabrick to provide digital asset trading services to Italian banks and fintech.

The partnership was announced at the Milan Fintech Summit 2021 on Tuesday. Per the announcement, local customers of traditional Italian banks and fintech will enjoy access to over 170 digital assets through Bitpanda’s White Label product.

BitPanda set up shop in Milan, Italy just about 6 months ago but is already making waves in the Italian fintech industry. Also, the firm believes that it will have its first 100,000 customers in Italy within the year. Its partnership with Fabrick is a move to improve the firm’s reach in the market.

Speaking about the partnership, the country manager of Bitpanda Italy Orlando Merone, says, “We are delighted to announce our strategic partnership with Fabrick, which will accelerate the digital transformation of the Italian banking ecosystem.”

Likewise, Merone believes the partnership will aid several industry players in offering digital assets, custodial and wallet services to their clients.

CEO and Co-founder of Fabrick Paolo Zaccardi stated, “The goal is to simplify and accelerate innovation in that space. Zaccardi believes the partnership with Bitpanda will provide an innovative and accessible investment service for Italians.

This is not the first crypto integration Fabrick is facilitating. Recently, the company enabled 1.2 million Italian customers to transact bitcoin using its app.

About Bitpanda

Established seven years ago, Bitpanda is touted as one of the fastest-growing fintech in Europe. Using the platform, people can invest in cryptocurrencies, commission-free fractional stocks, exchange-traded funds (ETF), and precious metals.

In March, the firm closed a Series B funding round with $170 million and a valuation of $1.2 billion making it Austria’s first unicorn startup. Yet again in August, the firm raised another $263 million pushing the company’s valuation to $4.1 billion. Bitpanda moved into Italy less than six months ago and has an office set up in Milan.