Bitpanda, the Austrian retail crypto trading platform, unveiled that it has obtained a license to operate as a payment service provider.
The license (PSD2) was granted by the Austrian financial watchdog – the Financial Market Authority Austria (FMA).
As mentioned in the April 4 press release, the license will enable company to offer its services in both the European Economic Area and the European Union.
Vienna-based fintech currently has around 1 million users and more than 100 employees. Since its establishment in 2014, the company has become one of the leading crypto buying and selling marketplace in Europe. The license will allow this fintech to launch exciting features and products in the months ahead of us.
“Our goal is to bridge the gap between the modern and traditional financial world. The payment service provider license will allow us to tear barriers down,” said Philipp Bohrn, the managing director at Bitpanda.
Before joining Bitpanda, Mr. Bohrn was the managing director of the Association of Financial Service Providers in Austria’s chamber of commerce.
“We are very happy that Bitpanda is one of the few European cryptocurrency fintechs to receive such a license. It’s a big step towards our vision to create an open, innovative investment platform,” said Eric Demuth, CEO of Bitpanda.
The company is currently expanding its trading platform to other asset classes besides cryptocurrencies.
All around the world, jurisdictions are adjusting their regualtory regimes to the rapid changes induced by crypto, blockchain technologies and other fintech innovations.
Formerly known as Coinimal, Bitpanda was established in 2014 with headquarters in Vienna. Since then, the company has grown into Europe’s leading trading platform for buying and selling digital assets. The company strongly believes in the innovative power of cryptocurrencies and blockchain technology. Their mission is to become the key driving force in the ongoing fintech revolution.