Bitpanda, an Austrian crypto exchange, announced today that its local unit, Bitpanda Asset Management, had received a crypto license from the German Federal Financial Supervisory Authority (BaFin). From now on, the Austrian crypto exchange can legally offer custody and proprietary trading services to German citizens of a European country.
As a result of this significant step, the Austrian unicorn has become the first retail investing platform in Europe to comply with BaFin’s stringent regulatory requirements. Moreover, for crypto enthusiasts, Bitpanda is among the best crypto exchange for UK and has crypto licenses for various European countries like Austria, Spain, Italy, France, Sweden, the Czech Republic, and the UK.
Eric Demuth, the CEO and co-founder of Bitpanda, said in a statement that after securing Germany’s license, it had strengthened its position as a pioneer in terms of regulation in Europe. According to Bitpanda reviews, this exchange platform is appealing due to its highly intuitive and user-friendly design for buying and selling cryptocurrencies.
Bitpanda would now maintain an order book, directly market services for crypto assets, and provide a regulated and secure environment for German users, aiming to attract a wide range of cryptocurrency investors. However, this news is followed by last month’s news that Bitpanda had partnered with the German neobank N26 to offer users trading tools.