Bitpanda cryptocurrency exchange scores registration in Spain

Bitpanda, an Austrian cryptocurrency exchange that was valued at $4.1 billion last summer, has received registration as a digital currency exchange and digital asset custody service provider in Spain. 

The company’s name appeared in the Bank of Spain’s registry for crypto enterprises on Thursday. The registry itself opened in October 2021. At the moment, it includes 15 companies. Speaking to Cointelegraph, Bitpanda’s representative specified that the company has been de-facto operating in the country since 2014. 

Spain marks the sixth European country in which the Vienna-based company has obtained a license. In December 2020, it registered with the Financial Markets Authority of France, while in May and June 2022, it became the first foreign crypto provider with registration in Sweden and one of the first to get the Italian virtual asset services provider (VASP) license.

In the company’s announcement, Bitpanda co-founder and co-CEO Eric Demuth pledged its commitment to providing a safe environment for trading amid the market crisis:

“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 wallet service provider, intending to rebrand it to Bitpanda Custody and start providing native crypto custody services focused on institutional investors. The exchange platform claimed its maiden acquisition is the first step toward the launch of Bitpanda Pro, its prime brokerage services platform and an over-the-counter trading desk.

As the company representative told 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 bill, European Union authorities would grant crypto companies an opportunity to operate on the pan-European level, should they get registered in one of the EU countries.