Vienna-based crypto platform Bitpanda has reported a record revenue for 2024, more than doubling its previous year's income.
Record Revenue Growth
Bitpanda reported a revenue of €393 million (around $426 million) for 2024, marking a 162% increase from the $163 million reported the previous year. This milestone signifies a significant achievement in profitability and scalability for the company.
Driving Factors of Growth
The growth of Bitpanda is attributed to regulated product offerings, market expansion, and a series of institutional partnerships. A notable partnership with Deutsche Bank was formed to process fiat transfers in Germany. Additionally, the exchange has increased its activity in new regions by securing licenses in the UAE and the EU.
Future Plans
Looking ahead, Bitpanda plans to further expand across the EU and the UK, leveraging its acquired MiCA license and regulatory approval from the UK’s Financial Conduct Authority. The company aims to enhance its presence in untapped markets while focusing on long-term growth.
The results of 2024 affirm Bitpanda's growth strategy and lay the groundwork for further development in the European crypto exchange market.
