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Bitpanda cryptocurrency change scores registration in Spain

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Bitpanda, an Austrian cryptocurrency change that was valued at $4.1 billion final summer season, has obtained registration as a digital forex change and digital asset custody service supplier in Spain. 

The firm’s title 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 through which 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 turned 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 protected setting for buying and selling amid the market disaster:

“As recent market developments have shown, where you buy your digital assets matters and we are going to always be prioritizing the safety of our community, as we are working relentlessly to build the best and the safest investment platform in Europe and beyond.”

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In February 2022, Bitpanda acquired United Kingdom-based Trustology, a crypto custodian and pockets service supplier, meaning to rebrand it to Bitpanda Custody and begin offering native crypto custody providers centered on institutional buyers. The change 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 instructed Cointelegraph:

“We have applied for registration in every market we have a presence, and have already secured registration and licences as a virtual asset service provider in Italy, Austria, Sweden, France, the Czech Republic and now Spain. We do, of course, want to expand our presence in further European markets, but will only do so when we can ensure we are fully compliant with local regulatory requirements.”

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