Lydia payment app opens access to cryptocurrencies via Bitpanda

The Lydia payment app has integrated Bitpanda’s broker services. This will enable 5.5 million users to trade more than 170 digital assets with zero fees, CoinDesk reports.

Lydia offers a wide range of services, including current and joint accounts, express loans, instant bank transfers, mobile payments and investments. The partnership with Bitpanda will also enable clients to invest in equities, precious metals and ETF.

According to the broker’s co-founder Erik Demuth, the agreement will strengthen the firm’s position in France. In December 2020, the firm received approval from the local financial markets regulator.

“France is a key market for Bitpanda. We are opening an office in Paris and building a local team,” he said.

The company previously signed a similar agreement with Italian fintech startup Fabrick. The platform developed by the latter provides API access to more than 500 local banks.

In October, Bitpanda hired a former JPMorgan top executive to serve as CEO of the platform for institutions.

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