Bitpanda secures crypto licenses in Sweden and Italy
Vienna based crypto, stocks, and commodities services trading provider Bitpanda has announced that it has secured licenses and registered with local regulators in Italy and Sweden.
The company said that this makes Bitpanda the first foreign crypto provider with a registration in Sweden, and one of the first to register with the Italian Virtual Asset Services Provider (VASP). These registrations will allow the fintech unicorn to expand its reach into new markets, bring its offering to new investors, and maintain its commitment to being fully regulated in each of the markets in which it operates.
Bitpanda Group started as a crypto-trading platform in 2014 with Eric Demuth, Paul Klanschek and Christian Trummer (pictured above) as co-founders. Bitpanda has grown into one of Europe’s biggest investment platforms, offering its close to 4 million customers the freedom and flexibility to invest in a wide range of digital assets, 24/7, depending on their budget and risk appetite.
Eric Demuth, co-founder and CEO of Bitpanda, commented:
“The trust of the Bitpanda community is what drives us forward and motivates us to keep innovating by bringing to market new solutions that solve real problems. We’ve always led the way when it comes to regulatory compliance because we believe that our customers deserve the safest, simplest and most secure platform. As recent market developments have shown, where you buy your digital assets matters and we are going to always be prioritising the safety of our community. We’re thrilled to be the first foreign crypto provider with a registration in Sweden and that we have been able to further cement our commitment to Italy through our registration with the Virtual Asset Services Provider (VASP).”
The Bitpanda Group is also registered with the Austrian Financial Market Authority (FMA), the French Autorité Des Marchés Financiers (AMF), the Czech Trade Authority as VASP, holds the PSD2 licence, the MiFID II licence and became Austria’s first Electronic Money Institution (EMI) in accordance with European law (EMD2), plus has a fully AML5 compliant KYC process. With its licensed subsidiaries working together in major financial hubs, Bitpanda is well positioned to provide cutting edge fintech services for its European customer base that is approaching 4 million people.
Bitpanda’s growing technology ecosystem currently comprises ten offices and physical tech hubs across Europe, including dedicated tech or talent hubs in Barcelona, Krakow, and Bucharest. In order to welcome a growing number of employees, Bitpanda has also moved into a new headquarters in Vienna.