Payments app Lydia has signed to white-label Bitpanda’s digital finance infrastructure. The partnership means Lydia users will shortly have access to a wide range of digital assets.
France-based Lydia claims more than 5 million users. The Bitpanda platform will underpin investment services, under the Lydia brand, across commission-free fractional stocks, cryptocurrencies and precious metals. Users will be able to invest from as little as €1.
Bitpanda opened up its platform for white-label partnerships around six months ago. This was to allow fintechs, traditional banks and online platforms to create a fully-digital investment offering of their own, with the look and feel of their brand.
The approach to work together apparently came from Lydia. Co-founded by Antoine Porte and Cyril Chiche in 2013, the firm started as a peer-to-peer payments app, initially targeting college campuses. It then extended to retail chains and e-commerce businesses.
The company’s vision is now to become an all-in-one financial app that lets customers control their bank accounts and access various financial services.
Bitpanda was founded in 2014 in Vienna. It now has more than 600 staff and three million users.
In France, Bitpanda began offering services in 2018 before launching fully in May 2020.