Blockchain milestone: Bitpanda becomes our technology partner

Bitpanda's tech research project: Pantos will be implemented on RBI Coin, an e-money pilot solution for interbank and intercompany payments. The leading investment platform, with their blockchain project Pantos, announced a partnership with Raiffeisen Bank International on 22 October 2020. This brings us one step closer to our common goal of blockchain interoperability.

• After 2.5 years of research and development, Bitpanda's Pantos (PAN) tech reaches a major milestone by entering into a partnership with Raiffeisen Bank International
• As the first Proof of Concept, Pantos technology will be implemented on RBI Coin, an e-money pilot solution for interbank and intercompany payments
• This is a major use case both for blockchain interoperability and for the banking industry to allow financial applications built on different underlying blockchain protocols to interact with each other

About Pantos and RBI Coin

Pantos is a major European blockchain interoperability project developed by the Bitpanda team together with the Technical University of Vienna. Pantos' aim is to enable token projects to be independent of a specific blockchain. Having RBI as an industry partner joining the Pantos project is a large step in the maturing of the Pantos protocol, which shows that the past 2.5 years of development have been successful.

RBI Coin is a next-generation digital cash solution for interbank and intercompany payments to streamline cash and liquidity management and introduces new banking products to corporate and institutional customers.

There are many financial applications built on blockchains that are fundamentally different in architecture from both business and technical perspectives. Such developments bring a challenge of having no natural link between these different applications, which poses the risk of multiple siloed solutions running in parallel. Our cooperation with Pantos represents a determined attempt to address and solve the interoperability issues between different blockchain applications.

A milestone for the banking industry

Establishing blockchain interoperability is key to mass adoption as it will allow this emerging technology to unlock its full potential by allowing smooth interaction between different underlying protocols. We will be part of the Pantos ecosystem using technology which allows the establishment of interoperability between different blockchain ecosystems and use cases.

what the experts say

Paul Klanschek, Co-Founder and CEO of Bitpanda said: 'We see a lot of competing protocols, not only from the cryptocurrency space but also from tech-companies, banks and governments. The question of how to unite all those protocols still remains unanswered. The Pantos project aims to offer a unifying solution for the fragmented blockchain and cryptocurrency space. After a purely research and Proof-of-Concept-focused mode, we are now extremely excited to enter a partnership with RBI to bring our technology to their RBI Coin.'

Christian Wolf, Head of Strategic Partnerships & Ecosystems, said: 'The Pantos technology plays an integral role in making the tokenisation of assets a reality within our banking group by bringing in the interoperability aspect, thus allowing for even more extensive and flexible use cases for banking customers.'

This is a major step for the Pantos project. It shows that the past years for development have been successful as we start heading towards production.