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Bitpanda and Raiffeisen Bank International are partners for blockchain interoperability in the banking sector

Digital investment platform Bitpanda announced a partnership of its blockchain interoperability project Pantos with Raiffeisen Bank International to implement its technology on RBI Coin., an electronic money solution. This was reported by a statement from Bitpanda Cointelegraph in Spanish.

According to Bitpanda Pantos is a large European blockchain interoperability project that was developed by the Bitpanda team together with the Vienna University of Technology.

Panto’s goal is to make tokenization projects independent of a specific blockchain. “RBI’s accession to the project is proof of the success and maturation of the development of the Pantos Protocol over the past two and a half years,” the statement said.

Bitpanda and Raiffeisen Bank International are partners for blockchain interoperability in the banking sector
Bitpanda and Raiffeisen Bank International are partners for blockchain interoperability in the banking sector

“”RBI Coin is a digital cash solution (…) for interbank and intercompany payments in order to streamline the management of cash and liquidity and introduce new banking products for corporate and institutional customers, ”they later explained.

There are many financial applications that are based on blockchain and that differ fundamentally in architecture from both a business and a technical point of view. These developments present the challenge of not creating a natural connection between these different applications, which carries the risk of multiple solutions occurring in parallel.

With this in mind, they stated in the declaration that The collaboration between RBI and Pantos is a determined attempt to address and solve interoperability problems between different blockchain applications.

A case to consider

“”This is an important case study to make the banking industry technologically independent from rapid changes in this technology.. RBI will be part of the Pantos ecosystem by deploying technologies that enable interoperability between different blockchain ecosystems and practical cases, ”said Bitpanda.

Paul Klanschek, Bitpanda’s Co-Founder and CEO, highlighted the importance of this agreement, saying:

“We see a lot of competitive protocols, not just from the crypto space, but also from tech companies, banks and governments. The question of how all of these protocols can be linked remains unanswered. The Pantos project aims to offer a uniform solution for the fragmented blockchain and cryptocurrency space. After a pure research and proof-of-concept mode, we are now very excited to be working with RBI to bring our technology to their RBI currency. “

Christian Wolf, Head of Strategic Alliances and Ecosystems at RBI, has shown his satisfaction with this alliance and said:

“Pantos technology plays an important role in realizing the tokenization of assets in our banking group by introducing the aspect of interoperability and thus enabling our customers to use cases that are even more comprehensive and flexible.”

About Bitpanda

Bitpanda is a European neo broker aiming to democratize the complex world of investing. Founded in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer, the company firmly believes in transparency and makes the world of investing easier.

About RBI

RBI is an Austrian bank whose main markets are Austria and Central and Eastern Europe (CEE).

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