"Trustworthy"
Bitpanda receives EU-wide crypto license from BaFin
The Viennese crypto platform Bitpanda is one of the first crypto platforms to receive an EU-wide MiCAR license from the German regulatory authority BaFin. According to Bitpanda, this will enable it to expand its position as a trustworthy crypto platform and further accelerate its growth.
The introduction of the Markets in Crypto Assets Regulation (MiCAR), which has been fully applicable since the beginning of the year, reduces operational complexity and opens up "cost-efficient ways to scale", according to Bitpanda.
Although the MiCAR license makes the rules for crypto providers stricter and increases protection for investors, the license issued by one EU country is also valid in every other EU country. However, Bitpanda was already licensed and active in numerous European countries before the MiCAR license.
Bitpanda expects further growth
The platform intends to use the standardization of regulation for further growth. After one million users in 2019, six million people were already using Bitpanda by the end of 2024. By comparison, the company had around one million users in 2019. The company expects further growth this year thanks to the new license.
Bitpanda was founded in Vienna in 2014 and has since established itself as one of the largest crypto brokers in Europe. According to its official website, it currently employs 700 people.
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