Bitpanda is one of the most popular exchanges for trading cryptocurrencies. Founded in Austria in 2014 as a small company, the crypto exchange has developed into one of the most famous names on the market and today competes with Coinbase, Binance and Kraken. Bitpdana wants to be more than "just" a crypto exchange. The Pantos (PAN) project in cooperation with the Technical University of Vienna (TU) aims to set standards for cross-chain token transfers and improve communication between developers, researchers and users.
Raiffeisen Bank International with its own RBI Coin
Bitpanda's blockchain interoperability project Pantos (PAN) in cooperation with the Vienna University of Technology has set itself the goal of making tokens independent of their blockchain. Because with the rapid increase in available cryptocurrencies, more and more projects are being implemented that are based on their own blockchain. However, these lack interoperability. Bitpanda wants to solve this problem with the Pantos project.
Raiffeisen Bank International RBI would like to be convinced of this concept, as Bitpanda in the press release from October 22nd. After more than 2,5 years of research and development, a major milestone has now been reached. The cooperation enables the proof-of-concept to be put into practice.
The press release states:
As the first proof of concept, the Pantos technology is to be implemented on the RBI Coin, an RBI e-money solution. This creates an important use case for both blockchain interoperability and the banking industry to become technology-agnostic in the field of rapidly changing blockchain technologies.
While Bitcoin and the blockchain have always been viewed as the enemy of the bank, more and more financial institutions seem to want to take advantage of the new technology for themselves.
There are already numerous financial applications based on blockchain technology. However, these differ fundamentally in their architecture, both in terms of business and technology. (...) The partnership between RBI and Pantos aims to address and solve the interoperability problems between different blockchain applications.
The RBI-Coin is an electronic money solution which should be used for transactions. As early as May 2019, we reported on the news that RBI is showing interest in blockchain technology and is testing a tokenization platform:
Cryptocurrency Pantos (PAN) at all-time high
The current market is also having an extremely positive effect on the price of Pantos (PAN). As a result of the news about the cooperation with Raiffeisen Bank International, the cryptocurrency was able to achieve a price increase that catapulted the token to an all-time high of 0,057 USD. Shortly thereafter, it recovered somewhat and settled at around $ 0,055.
The following chart shows the course of the cryptocurrency since it was first listed on Coingecko. As you can see in the graph, the price is at its all-time high. Investors who bought at the turn of the year can look forward to an increase of almost 200%:
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