Austrian bank Raiffeisenlandesbank NÖ-Wien has partnered with Bitpanda to enable customers to invest in cryptocurrencies and other digital assets.

The bank says the partnership makes it the first major traditional bank in the European Union to move into digital assets.

Customers will be able to invest in EFTs, cryptocurrencies, precious metals and commodities from €1.

The new service, which uses Bitpanda’s API solution, and will replicate the look and feel of the bank’s brand.

Commenting on the news Michael Höllerer, chief executive of Raiffeisenlandesbank, said that the new service would combine personal advice for customers with “cutting-edge” technology.

“The partnership with Bitpanda aims to add an innovative, secure facet to our product range and to enable all customers to easily accumulate wealth," he said.

Last year Bitpanda partnered with smart money app Plum to make crypto investing available to the FinTech’s European customer base. The collaboration allows customers to have round the clock access to investing and the service is fully integrated within Plum’s financial services app.

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