Bitpanda, an Austrian cryptocurrency exchange valued at $4.1 billion last summer, has been approved by the government of Spain to operate as a virtual currency exchange and digital asset custody service provider. On June 16, the company’s name emerged in the Bank of Spain’s crypto-enterprise registry. In October of 2021, the registration officially opened its doors. It now consists of 15 firms. Bitpanda’s representative told that the company had been de-facto functioning in the country since 2014.
French Financial Markets Authority
The Vienna-based company has now received a license in Spain, making it the sixth European country in which it has done so. It registered with the French Financial Markets Authority in December 2020, became the first foreign crypto provider to register in Sweden in May and June 2022, and was one of the first to obtain an Italian Virtual Asset Services Provider (VASP) license in May and June 2022. Bitpanda co-founder and co-CEO Eric Demuth stated in the business’s release that the company is committed to delivering a safe trading environment amid the market crisis:
“As recent market developments have proven, where you acquire your digital assets matters, and we will always put our community’s safety first as we work tirelessly to build the finest and safest investment platform in Europe and beyond.”
Bitpanda purchased Trustology, a crypto custodian and wallet service provider based in the United Kingdom, in February 2022, intending to rebrand it as Bitpanda Custody and offer native crypto custody services to institutional investors. The exchange platform claims that this is the first step towards introducing Bitpanda Pro, its premium brokerage services platform, and the OTC trading desk.