Fintech in France Lydia partners with Bitpanda to allow 5.5 million users to trade cryptocurrency
Bitpanda is an Austrian crypto exchange platform. Its users can invest in cryptocurrencies, crypto indices, stocks, ETFs and metals. It has joined hands with Lydia payment app to offer this app’s more than 5 million users investment options in digital products. Bitpanda investment products have been integrated fully with this payment app. Lydia users can now invest in more than 170 digital products covering cryptocurrencies, fractional stocks, ETFs and metals. These transactions will go through the Bitpanda platform.
Plans to Grow In Europe
Bitpanda achieved the unicorn status in the tech industry of Austria. It has been growing its presence in Europe. Recently it partnered with an open-finance platform in Italy to allow banks and fintech companies trade in digital assets. The company plans to grow its trading platform throughout Europe with these partnerships. Its goal is to increase mainstream adoption of digital assets and improve investment literacy in these products. It recently hired Joshua Barraclough, a former executive at JP Morgan, as its CEO.
Ambitious Growth Plans
Bitpanda has been ambitious in its growth prospects in France and this partnership with Lydia will allow it to grow faster. It is not alone in trying to offer crypto services in France. In November, Binance crypto exchange company announced its plan to invest $116 million for crypto R&D initiatives. The plan involves growing crypto and blockchain sectors in France.
Bitpanda has gained a valuation of $4.1 billion in August after series C round of funding. Lydia raised $131 million after two rounds of funding last year. This payment app was established in 2013 with investments from Chinese tech company Tencent and venture capital company Accel.