Crypto exchange and custody platform Bitpanda announced on November 22 that it had received a crypto trading license from the German Federal Financial Supervisory Authority. According to Bitpanda, obtaining a license means that it has become the “first European retail investment platform to meet the strict regulatory requirements of BAFIN”.
New license strengthens Bitpanda’s position
Austrian crypto exchange Bitpanda has obtained “an exclusive crypto custody and trading license for crypto assets from the German Federal Financial Supervisory Authority (BAFIN)”. According to Bitpanda, obtaining the license means that the crypto exchange has become the “first European retail investment platform to meet the strict regulatory requirements of BAFIN”.
In a statement, Bitpanda said the license allows it to expand its crypto asset custody and trading services to German residents. Commenting on his company’s new milestone, Eric Demuth, CEO of Bitpanda, said:
Obtaining the license in Germany is the result of several months of hard work by the entire Bitpanda team and close cooperation with the BAFIN team. It reinforces our position as a pioneer in terms of regulation in Europe and once again underlines our leading position in this field. We want to offer our clients a safe, secure and simple way to invest.
According to Demuth, Bitpanda has more exciting announcements to come before the end of the year. Founded in 2014 by Demuth, Paul Klanschek and Christian Trummer, Bitpanda is already registered with the Austrian Financial Markets Authority (FMA) and the French Financial Markets Authority (AMF).
In the Czech Republic, Bitpanda is registered as a Virtual Asset Service Provider (VASP) and also holds the PSD2 payments provider license. In addition to having obtained approvals to operate in Austria and the Czech Republic, Bitpanda, which is said to have a valuation of $4.1 billion, has legal authorization to operate in Sweden, Spain and the United Kingdom.
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