Banco de España has included Bitpanda in its registry as a service provider for exchanging virtual currencies for fiat currency and custodians of e-wallets.
Bitpanda, the leading unicorn financial technology company in Europe, has obtained the registration of a service provider for exchanging virtual currencies for fiat currency and custodianship of electronic wallets with the Bank of Spain.
The registration represents another step in Bitpanda’s unwavering commitment to regulation, the highest standards of security and trust for its customers, and its ongoing efforts to provide fair and innovative financial services to millions of people.
The recognition by the Bank of Spain 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, “At this company, we always do the right things and the right way.
It often feels like the Wild West, we take great care of complying with regulations. As recent market events have shown, the platform on 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
Alejandro Zala, Regional Director of Bitpanda Spain added: “We are pleased to be officially registered with the Bank of Spain after these months of waiting since the application was submitted. We will continue to work closely with national regulators to ensure that we provide a fully compliant service to the growing number of individual and institutional investors in Spain.”
Protection, security and regulation
Since its inception, regulatory compliance has been a major priority for Bitpanda, which was initially set up as a cryptocurrency platform in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer.
In addition to registration with the Bank of Spain, 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 French Financial Markets Authority (AMF), the commercial authority of the Czech Republic as VASP, has a license PSD2, MiFID II authorized and became the first electronic money institution (EMI) in Austria in compliance with European legislation (EMD2), as well as in full compliance with the AML5 Know Your Customer (KYC) process. With its licensed subsidiaries operating together in major financial centers, Bitpanda is well positioned to provide cutting edge financial technology services to 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. An easy-to-use, multi-asset platform that makes it easy for novice and experienced investors alike to invest in stocks, ETFs, cryptocurrencies, crypto indices, and precious metals starting at just €1 24/7. With over 1,000 team members and nearly 4 million users, the company is one of the fastest growing FinTech companies in Europe. Bitpanda’s growing tech ecosystem currently has physical offices and tech centers in ten European cities, including Vienna, Madrid, Barcelona, Berlin, London, Amsterdam, Milan, and Dublin, among others.