Bitpanda Receives MiCA Approval from German Regulatory Authority

Bitpanda Secures MiCA License From German Regulator

Breaking into the EU Market: Bitpanda and Rivals Secure Licenses

Crypto exchange Bitpanda has secured a crucial milestone in its expansion plans by obtaining a Markets in Crypto Assets (MiCA) license from Germany‘s Federal Financial Supervisory Authority, BaFin. This move enables the company to operate across the 30 members of the European Economic Area (EEA), which includes 27 EU nations, Iceland, Liechtenstein, and Norway.

What Does MiCA Mean for Bitpanda?

The MiCA regulations came into effect at the end of last year, allowing license holders to offer their services without needing individual approval from each country. This development has opened up opportunities for companies like Bitpanda to tap into a massive market of over 450 million people. With its existing user base of 6 million in December, Bitpanda is poised to accelerate its growth and expansion plans.

Bitpanda‘s CEO and co-founder Eric Demuth expressed his excitement about the milestone, stating, “This enables us to bring easy and safe investing to over 450 million people, unlocking unparalleled growth potential in a market we’re ready to fully conquer.” The company joins other notable players like Boerse Stuttgart Digital, MoonPay, BitStaete, ZBD, and Hidden Road, which have also received MiCA licenses.

Rivals Join the Ranks

Bitpanda’s rivals OKX and Crypto.com have also secured their place in the EU market by obtaining accreditation from Malta. This move is a significant step for these companies as they look to expand their services across the EEA. The COO of Crypto.com, Eric Anziani, noted that the approval will enable them to “streamline operations to ensure both compliance and seamless cross-border activity.”

The MiCA license has marked a new era for crypto exchanges in the EU market, with many companies seeing it as an opportunity to tap into a massive and growing market. As Bitpanda continues to expand its services, it’s clear that the company is well-positioned to take advantage of this development.