Bitpanda has received its MiCAR (Markets in Crypto-Assets Regulation) licence from Germany's Federal Financial Supervisory Authority (BaFin). This development allows the company to operate across all EU member states under a unified regulatory framework.
The licence was issued by BaFin, known for its oversight of financial markets. MiCAR sets new standards for transparency, security, andcompliance within the crypto industry in Europe.
Bitpanda Secures MiCAR Licence from BaFin
"With this licence Bitpanda is setting a new standard for the crypto industry, paving the way for secure and regulated services across Europe," Eric Demuth, CEO and Co-Founder of Bitpanda, commented.
Founded in 2014, Bitpanda expanded its user base from 1 million in 2019 to 4 million by 2023. By June 2024, it reached 5 million users, growing to 6 million by December of the same year. The MiCAR licence is expected to facilitate further growth in 2025. With the MiCAR licence, Bitpanda plans to offer its full range of products and services to retail and institutional clients throughout the EU.
"This licence has immediate validity - unlike in-principle licences announced by other crypto platforms which are neither valid nor exist at all. This milestone enables us to bring easy and safe investing to over 450 million people, unlocking unparalleled growth potential in a market we're ready to fully conquer," Demuth added.
Big news: Bitpanda has secured its MiCAR licence, granted by Germany's BaFin – one of Europe’s top financial supervisory authorities. ????This sets a new benchmark for transparency, security, and trust in crypto across the EU. With this licence, we’re ready to bring regulated… pic.twitter.com/i1PlxhwK6U
— Bitpanda (@Bitpanda_global) January 27, 2025
New MiCAR Licence Enables Bitpanda Services
MiCAR introduces a single regulatory regime for the crypto industry, reducing operational complexity and costs. This allows Bitpanda to scale its services more efficiently across 27 EU countries. Bitpanda holds 17 licences, including a PSD2 E-money licence and a MiFID II licence.
"With MiCAR, we are not just meeting the industry’s highest standards, we are setting them. Our focus now is on using this licence to accelerate adoption and growth across the European market," Lukas Enzersdorfer-Konrad, Deputy CEO at Bitpanda conclued.
This article was written by Tareq Sikder at www.financemagnates.com.
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