Rajarshi Mitra
Independent Analyst
- Pro Aurum and Philoro will be supplying the raw metals.
- The firm will also enable its users to swap services from metals to digital assets.
Austria-based fintech Bitpanda has recently launched digital trading service for gold and silver along with digital assets. It was announced on May 13 that the digital trading backed by physically stored metals are securely kept in a vault in Switzerland and are 100 percent insured.
The crypto trading platform has partnered with two metals brokers – Pro Aurum and Philoro, who will be supplying the raw metals.
“With Bitpanda Metals we are bringing the user experience and convenience of buying digital assets to the world of precious metals. The physically backed gold and silver can be traded with the same ease as with other digital assets on the Bitpanda platform,” reported the exchange.
The exchange won’t charge any trading fee till June 15. However, it will charge 0.5 percent of the trading value. The customers will have to pay 0.0125 percent of the amount as storage fees.
The firm will also enable its users to swap services from metals to digital assets. Bitpanda said:
“To celebrate the launch of Bitpanda Metals, Bitpanda charges no premium on buying gold, plus users receive €5 to €200 worth of tokenized gold or silver when they invest at least €25 in gold or silver on the Bitpanda platform.”
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