Bitpanda Wins MiCA License to Expand EU Operations
Bitpanda has reached another important milestone: obtaining the Markets in Crypto Assets license from the Federal Financial Supervisory Authority of Germany, better known as BaFin. This license will enable Bitpanda to operate under a single regulatory regime in all 27 member states of the EU, making compliance easier and opening ways for growth.
MiCA provided a solution to the fragmented regulatory environment crypto service providers had been operating in Europe. It introduced a standard licensing requirement, prohibited reverse solicitation, and required firms from non-EU countries to obtain an EU license before operating in the bloc.
Driving European Adoption
Them leadership hailed the development as a key step in their mission to democratize investing in Europe. Lukas Enzersdorfer-Konrad, Deputy CEO, noted that the licence aligns with Bitpanda’s commitment to regulatory compliance, enabling the company to expand its footprint.
“This milestone 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,” said Eric Demuth, CEO.
The one-stop regime of MiCA brings order into operation and builds investor confidence because of the strict adherence to the set rules. The clarity in the regulations is what will spur the adoption of crypto and digital assets in Europe.
Benefits of the MiCA Framework
The MiCA license replaces the requirement for separate country-specific approvals, hence reducing some operational complexities for Bitpanda. It also increases investor protection by imposing more stringent obligations on crypto firms to prevent malpractices in their operations and ensure transparency.
This sets a milestone in business strategy for Bitpanda because it is allowed to operate across the EU with much ease. The platform will seek to leverage this unified regulatory environment in scaling retail and institutional services by offering more products to users.
Bitpanda Journey and Growth
At the same time, since its foundation in 2014, Bitpanda has grown immensely: its customers have grown from 1 million in 2019 to more than 6 million by the end of 2024, based on calculations. It holds a total of 17 licenses including PSD2 and MiFID II today, which enable the Vienna-based platform to offer everything from cryptocurrency through stocks to commodities.
With the MiCA license, Bitpanda is poised at the forefront of making regulated investment services accessible to more users in Europe, cementing its leading position in the digital asset space.
