Bitpanda, an Austrian investment platform that just recently attained unicorn status at a valuation of US$ 1.2 billion, has launched a new product called Bitpanda Stocks, which offers investments in fractional shares.
Existing and new users with a verified Bitpanda account can invest with as low €1 in fractional shares without service charges or recurring fees 24/7.
As a fully regulated derivative product, all stocks and ETFs are fully backed by Bitpanda’s custody bank partner BNP Paribas, and are also secured through a pledge agreement.
Bitpanda said that hundreds of assets will be added continuously in the next months and in order of investor demand, covering both the stock and ETF markets and offering thousands of brands more by the end of this year.
All of the assets added to the platform will also be able to take advantage of the recently-launched Bitpanda Card, allowing users to make purchases with any of the assets they hold in their portfolio.
Users can switch the linked asset at any time via the Bitpanda iOS and Android app, allowing them to choose whether to make a purchase with a fraction of Starbucks, Amazon or Nike, Bitcoin or gold, or even traditionally with EUR.
The launch follows the founding of its subsidiary Bitpanda Financial Services and its recent approval for a MiFID II license from the Austrian Financial Market Authority (FMA).
To coincide with the launch, Bitpanda has also unveiled a new brand alongside its new website and app, including improvements to make it easier for investors to engage with their finances at a glance.
Eric Demuth, Bitpanda CEO and Co-Founder commented,
“Fractional investing is such an important part of this product. If users want to access tech giants or blue chips, they shouldn’t be prevented from doing so due to a lack of capital.
Our platform means that anyone can access and invest in digital assets, including the companies and sectors that they really believe in – without barriers. It’s Wall Street without the walls, even when Wall Street closes.”
