Austrian crypto exchange Bitpanda has announced that it has acquired a license to provide crypto services in Germany.
Bitpanda, Austria’s first fintech unicorn company last year, received regulatory approval in several European countries, including Austria, France, Italy, Spain, the United Kingdom, the Czech Republic and Sweden. Now the country of license is Germany. The Austrian crypto exchange can now offer custody and proprietary trading services to customers in the European country.
Bitpanda Licensed In Germany Through Its Local Unit
Austrian exchange Bitpanda said it has obtained a crypto license in Germany through its local unit.
In a press release, the company announced that with the license obtained from the German Federal Financial Supervisory Authority (BaFin), Bitpanda Asset Management GmbH can independently offer crypto custody and private trading for crypto assets for German residents.
Stating that it took months to get the German license, Bitpanda co-founder and CEO Eric Bemuth said in a statement to the press:
“Referring to reports saying that FTX misused client funds to make risky transactions; That means being regulated and a strict separation of client and company assets, which unfortunately isn’t the case everywhere these days.”
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