Lydia App Users Can Now Trade Crypto Assets on Bitpanda

Vienna-based crypto exchange Bitpanda has joined forces with French mobile financial services platform Lydia to give the app provider’s more than 5 million users access to trade digital assets on Bitpanda’s crypto exchange, according to a Monday (Nov. 22) Bitpanda announcement.

The joint effort enables Lydia users to invest in more than 170 crypto assets, according to a CoinDesk report.

Investments are also available in commission-free fractional stocks and precious metals.

The partnership with Lydia follows Bitpanda’s March funding round, which netted $170 million and enabled the company to expand across Europe and establish new technology hubs for Madrid, Barcelona, London, Paris and Berlin, according to PYMNTS.

Read more: Bitcoin Daily: Bids For Elon Musk’s NFT Tweet Top $1 Million; Crypto Inflows Hit $4.2 Billion In Q1 Of 2021

Following a Series C funding round in August, Bitpanda was valued at $4.1 billion.

In an effort to simplify the investment process, Bitpanda in January launched a Visa debit card to allow customers to easily switch between multiple assets, including cryptos, fiat currencies or precious metals in order to fund payments, according to PYMNTS.

Designed as a way to allow users to spend their investments whenever they want, the card can be linked to any asset in a user’s portfolio and can be chosen as the preferred payment source.

Related: Bitcoin Daily: BitPay Expands DeFi Options In Wallet App; Bitpanda Introduces Debit Card For Crypto, Fiat, Metal Payments

In addition to Bitpanda, Binance is making strides in France.

Earlier this month, France FinTech, a nonprofit association with a mission of promoting FinTech advancements in France, along with crypto firm Binance, announced the debut of a $115.4 million effort dubbed “Objective Moon,” according to PYMNTS. The initiative is funded by Binance and supports the advancement of blockchain and cryptocurrency ecosystem development in France and throughout Europe.

Funding will support the creation of a Research and Development hub in France, as well as a new online education program aimed at bolstering blockchain and cryptocurrency education in France.

See also: France Partners With Binance in €100M Initiative To Take Crypto and Blockchain to the Moon