Banco de España has included Bitpanda in its registry as a service provider for exchanging virtual currency for fiduciary currency and custody of electronic wallets.
Bitpanda, the leading fintech unicorn in Europe, has obtained the registration of services provider for exchanging virtual currency for fiduciary currency and custody of electronic wallets in the Bank of Spain.
The registration marks another step in Bitpanda’s firm commitment to regulation, the highest standards of security and trust for its customers, and its ongoing efforts to bring fair and innovative financial services to millions of people.
The Bank of Spain’s recognition comes just two weeks after the company, with more than 1,000 employees and 10 offices and technology centers spread across Europe, became the first foreign crypto provider to obtain a full license in Sweden, as well as obtain the registration of Virtual Asset Service Provider (VASP) in Italy.
Eric Demuth, co-founder and CEO of Bitpanda commented that “in this company we do and will always do the right things and in the right way. In a sector that
It often feels like the Wild West, we place great emphasis on compliance with regulations. As recent market events have shown, the platform through which digital assets are purchased is important and we will always put the safety of our community first. We work tirelessly to continue building the best and safest investment platform in Europe and
For his part, Alejandro Zala, Country Manager of Bitpanda for Spain, added that “We are delighted to be officially registered with the Bank of Spain after these months of waiting since the request. We will continue to work closely with national regulators to ensure that we offer a fully compliant service to an increasing number of retail and institutional investors in Spain.”
Protection, security and regulation
Since its founding, regulatory compliance has been a key priority for Bitpanda, which was initially created as a cryptocurrency platform in 2014 by Eric Demuth, Paul Klanschek, and Christian Trummer.
In addition to registration with the Bank of Spain, and the aforementioned full license in Sweden and registration in Italy as a VASP, the Bitpanda Group is also registered with the Austrian Financial Markets Authority (FMA), the Financial Markets Authority of France (AMF), the Trade Authority of the Czech Republic as a VASP, has the PSD2 license, the MiFID II license and became the first Electronic Money Institution (EMI) in Austria in accordance with European legislation (EMD2) , as well as having a fully AML5 compliant KYC process. With its licensed subsidiaries working together in major financial centers, Bitpanda is well positioned to provide cutting-edge fintech services to its nearly 4 million customers.
Bitpanda makes investing accessible to everyone. Founded in 2014 in Vienna, Austria by Eric Demuth, Paul Klanschek and Christian Trummer, Bitpanda exists to empower people to build financial freedom for their future. The easy-to-use, multi-asset platform makes it easy for novice and experienced investors alike to invest in stocks, ETFs, cryptocurrencies, crypto-indices and precious metals from just €1, 24/7. With more than 1,000 team members and close to 4 million users, the company is one of the fastest growing fintech companies in Europe. Bitpanda’s growing technology ecosystem currently has physical offices and tech hubs in ten European cities, including Vienna, Madrid, Barcelona, Berlin, London, Amsterdam, Milan and Dublin, among others.