Partners Banka Becomes the First Bank in the Czech Republic to Offer In-App Bitcoin Purchases
Partners Banka has announced that it is the first local commercial bank in the Czech Republic to offer direct buying and selling of Bitcoin within its mobile banking app. Customers can open a crypto account in minutes, with a minimum investment starting from 500 CZK, and funds are deducted directly from their bank accounts.
CEO Petr Borkovec stated that Bitcoin has attracted a significant portion of the Czech public, but the purchasing process remains unnecessarily complex. The new feature is part of the strategy to create "one app for all financial life." Customers no longer need to register with exchanges, install a second app, or manage recovery codes. Account opening and maintenance are free, with fees only charged upon transaction completion.
The trading and custody services are not handled by the bank itself but executed by Anycoin, the largest crypto exchange in the Czech Republic. Anycoin received a license from the Czech National Bank under the EU MiCA regulations this year and is the first Czech crypto company to integrate crypto trading directly into a commercial bank's system. The service officially launched on August 10.
The total trading fee is 2%, with the bank retaining 1.5% and Anycoin taking 0.5%. There are no fees for holding the assets. The maximum single transaction limit is 1.5 million CZK, with no limit on the number of transactions. Currently, purchased Bitcoin cannot be transferred to personal hardware wallets. Reports indicate that the Bitcoin price was around 1.3 million CZK at that time.
Borkovec classified Bitcoin as a risky asset, recommending that it should not exceed 5% of a diversified portfolio, and stated that the bank's app cannot eliminate price volatility but can remove technical barriers. The bank is not currently considering other cryptocurrencies. Last year, he referred to MiCA as a prerequisite for regulated banks to engage in crypto and described Bitcoin as a "belief" he does not personally follow, but still aims to provide a transparent channel for interested customers.
The buying side consists of existing bank customers, while the selling and custody services are handled by Anycoin. This is a channel event following the licensing, not the launch of a new exchange. Funds flow from current accounts to crypto positions, with fee distributions going to the bank and the exchange. The bank receives the entry point and a 1.5% commission, while Anycoin handles orders and custody; customers who cannot withdraw their coins and peers who still only sell price-linked products are under pressure.
Earlier this year, the bank launched a free multi-currency account, marking the second significant product move this year. Borkovec explicitly pointed to long-term competitor Revolut, viewing crypto sales as a layer that needs to be added after establishing a bank.
Source: Public Information
ABAB AI Insight
Petr Borkovec first established Partners as a consulting and distribution network in the Czech Republic before creating Partners Banka, aiming to retain daily accounts that would otherwise flow to Revolut within his own system. He publicly stated his intention to sell crypto after the bank's establishment but timed it to coincide with the implementation of MiCA to avoid using unlicensed channels that could trigger anti-money laundering and custody responsibilities.
The bank has not invested in building its own wallet or market-making. It only takes orders and transmits instructions, while custody and execution remain with Anycoin, with fees split at 1.5% to 0.5%. The closed holding prevents assets from leaving the app, keeping customer relationships, transaction flows, and repeat purchases on the bank's side, while Anycoin shifts to stable institutional orders rather than relying on retail customers to seek them out.
This approach is similar to Revolut embedding crypto into its super app and resembles Spain's BBVA offering crypto trading within a licensed framework, rather than Coinbase's model of first establishing an exchange and then obtaining a banking license. Previously, Czech peers focused more on selling price-linked products. Partners is in a channel expansion phase, trading entry for market share without competing with exchanges for underlying liquidity.
Essentially, this represents a transfer of pricing power following regulatory changes. MiCA shifts the responsibilities of custody and execution to licensed institutions, allowing banks to legally occupy the order placement interface. Customers pay a 2% fee for the convenience of one less registration step, with the price difference and commissions moving from the exchange page to the bank app. The inability to withdraw coins further transforms "holding" into an account function rather than allowing for the autonomous transfer of on-chain assets.
ABAB News · Cognitive Laws
Once the license is granted, channels are more expensive than exchanges.
Paying an extra layer of fees saves one step in the process.
Being able to buy does not mean being able to take away.