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Bitpanda cryptocurrency alternate scores registration in Spain

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Bitpanda, an Austrian cryptocurrency alternate that was valued at $4.1 billion final summer time, has acquired registration as a digital foreign money alternate and digital asset custody service supplier in Spain. 

The firm’s identify appeared within the Bank of Spain’s registry for crypto enterprises on Thursday. The registry itself opened in October 2021. At the second, it consists of 15 firms. Speaking to Cointelegraph, Bitpanda’s consultant specified that the corporate has been de-facto working within the nation since 2014. 

Spain marks the sixth European nation wherein the Vienna-based firm has obtained a license. In December 2020, it registered with the Financial Markets Authority of France, whereas in May and June 2022, it grew to become the primary overseas crypto supplier with registration in Sweden and one of many first to get the Italian digital asset providers supplier (VASP) license.

In the corporate’s announcement, Bitpanda co-founder and co-CEO Eric Demuth pledged its dedication to offering a secure setting for buying and selling amid the market disaster:

“As current market developments have proven, the place you purchase your digital belongings issues and we’re going to at all times be prioritizing the protection of our group, as we’re working relentlessly to construct the perfect and the most secure funding platform in Europe and past.”

Related: Unicorns in crypto. A rising herd of billion-dollar crypto firms

In February 2022, Bitpanda acquired United Kingdom-based Trustology, a crypto custodian and pockets service supplier, desiring to rebrand it to Bitpanda Custody and begin offering native crypto custody providers centered on institutional traders. The alternate platform claimed its maiden acquisition is step one towards the launch of Bitpanda Pro, its prime brokerage providers platform and an over-the-counter buying and selling desk.

As the corporate consultant advised Cointelegraph:

“We have utilized for registration in each market we have now a presence, and have already secured registration and licences as a digital asset service supplier in Italy, Austria, Sweden, France, the Czech Republic and now Spain. We do, in fact, need to broaden our presence in additional European markets, however will solely achieve this once we can guarantee we’re absolutely compliant with native regulatory necessities.”

Under the upcoming Markets in Crypto Assets invoice, European Union authorities would grant crypto firms a possibility to function on the pan-European degree, ought to they get registered in one of many EU international locations. 

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