Bitpanda Gains Investment Firm License in Austria

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Austria-essentially based fully mostly cryptocurrency alternate, Bitpanda has upgraded its native license, now gaining the location of an investment firm licensed by the nation’s financial regulator, Finanzmarktaufsicht (FMA).

Monday’s regulatory announcement detailed that the digital currency alternate is now licensed to receive and transmit orders on a commercial basis in the case of financial devices. Earlier, the crypto alternate became operating kassekreditt its electronic payments products and providers (PSD2) license obtained from the Austrian regulator in April 2019.

Founded in 2014, BitPanda is a retail dealer for digital sources, in conjunction kassekreditt more than 30 cryptocurrencies. The firm claims to safe onboarded 1.2 million users and plans to enhance into right-world sources to manufacture out a pan-European offering, kassekreditt the growth already starting in France, Spain and Turkey.

“We notion to retain on rising in additional European worldwide locations throughout this year and, in 2021, elevate financial empowerment throughout borders and real a recent sense of commercial culture,” Bitpanda’s Co-founder and CEO, Eric Demuth said earlier.

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Strengthening Regulated Companies and products in Europe

Bitpanda gained the contemporary license superior a couple of months after registering its products and providers in France kassekreditt the Autorité des marchés financiers (AMF), Finance Magnates reported earlier. That allowed the firm to supply regulated products and providers as a French digital asset carrier provider (DASP).

Additionally, the startup is smartly-funded, elevating more than $100 million in funds over time, essentially based fully mostly on Crunchbase. It secured $52 million earlier than closing its Series A funding spherical final September, which became led by billionaire Peter Thiel’s Valar Ventures.

Meanwhile, the firm is increasing its products and providers beyond crypto shopping and selling and launched a VISA-enabled cryptocurrency debit card for day-to-day payments.

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