The Austrian crypto platform Bitpanda has received approval from the UK's Financial Conduct Authority (FCA) to expand its services in the country.
FCA Approval
Bitpanda has confirmed that it is now authorized to offer over 500 cryptocurrencies to UK investors. The approval also enables the provision of a full suite of crypto services, including staking, savings plans, and crypto indexes.
Significance for Bitpanda
Eric Demuth, CEO and Co-Founder of Bitpanda, emphasized the importance of entering the UK market, stating, “Being Europe’s leading crypto platform means being in the UK—there was no question about it. Now, our focus is clear: deliver a product that meets the needs of UK investors. We’re ready to welcome British investors and take Bitpanda to the next level.”
Future Plans
As part of its expansion strategy, Bitpanda plans to establish a permanent UK office and grow its local workforce. The company aims to develop tailored investment products to meet the needs of British investors. Bitpanda’s return to the UK comes after it suspended new customer sign-ups in October 2023 due to changes in the FCA’s Financial Promotions regime. The company has also been a registered crypto custody provider for business clients in the UK since 2021. The UK approval follows Bitpanda’s recent acquisition of a MiCAR license from Germany’s BaFin.
Bitpanda's expansion into the UK opens new opportunities for investors and strengthens the company's position in the European crypto services market.
