French payments startup Lydia has partnered with crypto exchange Bitpanda, enabling its 5.5 million users to have access to a wide range of digital assets, Bitpanda said in a blog post on 22 November.
According to the announcement, Bitpanda’s “White Label Solution” has already been fully integrated with Lydia’s payments app, which will soon allow its users to buy, hold, and sell over 170 digital assets. Through this partnership, Lydia’s 5.5 million users will not only get access to cryptocurrencies, but also commission-free fractional stocks, exchange-traded funds (ETF), and precious metals. Bitpanda wrote in its blog post:
“Six months ago, we set out with the audacious goal of entering the B2B market by opening up Bitpanda’s digital finance infrastructure to third parties. Now the time has come and we are pleased to announce that we’ve joined forces with the mobile financial services platform Lydia, a real superstar in France.”
Once the trading feature has been launched, the app’s users can start investing in digital assets “they believe in” for as little as €1. The “White Label Solution” integration will allow Lydia accounts to have access to all the assets that are available on the exchange, and the fees will remain the same as transactions will be executed through Bitpanda. The company completed its registration with the Autorité des marchés financiers (AMF) — France’s Financial Markets Authority — back in December 2020.
Founded in 2013, Lydia started attracting users with its peer-to-peer platform that allowed them to send and receive money instantly from a mobile app. With time, the company grew in popularity, and started adding new features to the app, such as debit cards, IBANs, cashback, personal loans, and more. Back in June, the company partnered with French fintech startup Cashbee to offer its clients access to savings accounts.