By Nermeen Nabil Khear TLDR
- Bitpanda receives FCA approval to operate in the UK market, offering over 500 cryptocurrencies
- Company plans to open a London office and expand operations to serve British investors
- Platform holds multiple regulatory licenses including MiCAR from BaFin and MiFID II
- Bitpanda Technology Solutions serves major European banks including LBBW and N26
- Platform currently serves over 6 million users across Europe
Bitpanda, a European cryptocurrency platform serving over 6 million users, has received approval from the UK’s Financial Conduct Authority (FCA) to expand its operations into Britain. The approval allows the company to offer its full range of over 500 cryptocurrencies to UK investors.
The Vienna-based company plans to open registrations for UK users in the coming months. As part of its expansion strategy, Bitpanda will establish a permanent office in London and develop products specifically for the British market.
The FCA approval represents a key milestone for Bitpanda’s European expansion plans. The company already holds several regulatory licenses, including a MiCAR license from the German regulator BaFin, a PSD2 E-money license, and a MiFID II license.
Eric Demuth, CEO and Co-Founder of Bitpanda, emphasized the importance of the UK market in the company’s growth strategy.
“Being Europe’s leading crypto platform means being in the UK – there was no question about it. This was the last missing piece to truly serve all Europeans,” Demuth stated.
The platform’s UK offering will include cryptocurrency staking, savings plans, and crypto indices. These services aim to provide British investors with a comprehensive suite of digital asset investment options.
Bitpanda’s entry into the UK market comes after a decade of regulatory compliance efforts. The company has obtained Virtual Asset Service Provider (VASP) registrations across multiple markets, positioning itself as a regulated and compliant platform for cryptocurrency investing.
Lukas Enzersdorfer-Konrad, Deputy CEO at Bitpanda, highlighted the UK’s position as a financial hub.
“The UK is one of the world’s most important financial hubs, home to some of the most innovative companies and a thriving cryptoasset economy,” he said.
Beyond its consumer-focused services, Bitpanda operates a business-to-business division called Bitpanda Technology Solutions (BTS). This infrastructure platform provides digital asset services to financial institutions.
BTS currently works with several major European financial institutions. These include LBBW, Germany’s largest state-owned bank, Raiffeisen Banking Group, Austria’s largest retail banking group, and N26, a leading European neobank.
The technology division will now extend its services to UK banks. This expansion allows British financial institutions to integrate regulated cryptocurrency trading, investment, and custody services using Bitpanda’s infrastructure.
The platform’s technology enables various financial organizations to offer digital asset services. Banks, FinTechs, and online platforms can provide trading and custody services for Bitpanda’s range of digital assets through the BTS infrastructure.
Bitpanda’s FCA approval adds to its existing regulatory framework. The company has pursued a regulation-first approach throughout its operations, helping establish trust with users and financial institutions.
The company plans to tailor its products to meet the specific needs of UK investors. This localization strategy aims to address the unique requirements of the British market while maintaining compliance with local regulations.
UK users will gain access to what Bitpanda describes as the most extensive cryptocurrency offering available in the market. The platform’s 500+ cryptocurrencies represent a broad selection of digital assets for British investors.
The post Bitpanda Secures UK Regulatory Approval to Offer 500+ Cryptocurrencies appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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