The Austrian cryptocurrency shopping platform Bitpanda, one of Bitstamp’s competitors in Europe, has teamed up with Visa to offer its customers a payment card. The company, born in 2014 with 1.6 million users, is getting closer to Coinbase, the market leader, and motivating users to use Bitcoin as a real currency.
« At Visa we have strong relationships with local partners around the world to work together to advance the future of payments, depending on the conditions of each market, » said Stefanie Ahammer, Director of Visa Austria, in a statement. Thanks to the card issuer, Bitpanda announces that its new card will be available to all customers (not just those of Bitpanda Pro) and will cover all markets including France.
For Eric Demuth, one of the three co-founders of the platform, the goal was « to design a product that does not exist on the market ». However, I’m not sure I can put it this way: All players in the industry are now turning to payment cards. In France, even physical wallet startup Ledger has announced its card for the end of the year, and PayPal is continuing to expand its card offering, which is expected to soon support cryptocurrency.
Bitpanda can be characterized by the possibilities: In addition to cryptocurrencies, the card can pay in fiat currency (such as the euro) as well as in rare metals. The platform allows you to effectively buy gold or silver, a service reminiscent of what Neo-Bank Revolut has to offer, but not offered by competitors like Bitstamp and Coinbase.
« The arrival of the Bitpanda card comes at a time when cryptocurrencies and digital assets are spreading very quickly among the public, » said the co-founder.
Also Read – A New Visa Bank Card Earns Bitcoin For Its Customers
Bitpanda, a neo broker aiming to trade now
Nowadays, neo brokers are becoming more and more popular bringing together these new online platforms that offer the purchase of cryptocurrencies, but also stocks in the financial markets. So far, the two areas weren’t very related, and you had to subscribe to two different services in order to hold both Bitcoin and stocks.
Bitpanda continues to announce, « Stocks and ETFs are coming soon. » A gigantic bet as the market is starting to be well represented, be it by new players like Degiro, neobanks like Revolut or more traditional players in establishments like Boursorama.
In early 2020, Bitpanda completed a Series A fundraiser for $ 52 million. Between the European commitment and the motives for expanding its products, it is certain that the financing activities should continue this year.