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Saturday, January 28, 2023

Bitpanda cryptocurrency exchange scores registration in Spain

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Bitpanda, an Austrian cryptocurrency exchange that was valued at $4.1 billion final summer season, have obtained registration as a digital foreign money exchange and digital asset custody service supplier in Spain. 

The firm’s identify appeared in the Bank of Spain’s registry for crypto enterprises on June 16. The registry itself opened in October 2021. At the second, it includes 15 firms. Speaking to Cointelegraph, Bitpanda’s consultant specified that the corporate has been de-facto working in the nation since 2014. 

Spain marks the sixth European nation in which the Vienna-based firm has obtained a license. In December 2020 it registered with the Financial Markets Authority of France, whereas in May and June 2022 it turned the primary international crypto supplier with registration in Sweden and one of many first to get the Italian Virtual Asset Services Provider (VASP) license.

In the corporate’s announcement, Bitpanda co-founder and co-CEO Eric Demuth pledged its dedication to offering a protected setting for buying and selling amid the market disaster:

“As recent market developments have shown, where you buy your digital assets matters and we are going to always be prioritizing the safety of our community, as we are working relentlessly to build the best and the safest investment platform in Europe and beyond.”

Related: Unicorns in crypto. A growing herd of billion-dollar crypto companies

In February 2022, Bitpanda acquired U.K.-based Trustology, a crypto custodian and pockets service supplier, aspiring to rebrand it to Bitpanda Custody and begin offering native crypto custody companies centered on institutional traders. The exchange platform claimed its maiden acquisition is step one towards the launch of Bitpanda Pro, its prime brokerage companies platform and an over-the-counter buying and selling desk.

As the corporate consultant informed Cointelegraph:

“We have utilized for registration in each market we now have a presence, and have already secured registration and licences as a digital asset service supplier in Italy, Austria, Sweden, France, the Czech Republic and now Spain. We do in fact wish to develop our presence in additional European markets, however will solely accomplish that once we can guarantee we’re absolutely compliant with native regulatory necessities.”

Under the upcoming Markets in Crypto Assetsbill, European Union authorities would grant crypto firms a chance to function on the pan-European degree, ought to they get registered in one of many Union’s international locations.