Crypto and digital asset platform Bitpanda has secured a Markets in Crypto Assets (MiCA) licence in Austria to fully operate within Europe.
Bitpanda was cleared by the Financial Management Association (FMA) for activity in Austria, becoming the first crypto company to be MiCA approved in the country. Bitpanda also holds similar licences in Germany and Malta.
The company has placed a strong focus on being as regulatory compliant as possible as MiCA sets about bringing a comprehensive framework for existing and incoming digital asset firms to abide by.
Bitpanda, after securing a MiCA licence in Austria, now has over 10 operational licences in Europe, providing a backbone for the company to offer its full range of services whilst being compliant with laws.
Eric Demuth, CEO and Co-Founder of Bitpanda, said: “Even before MiCA, we were one of the most regulated crypto platforms in Europe, holding over ten different licences.
“Today, we continue on this path and have been successfully reviewed by three separate regulators across three countries. This underlines our clear and ongoing commitment to providing a secure and compliant environment for our customers and partners.”
MiCA, the world’s first crypto legislation, sets about defining which crypto assets and digital assets are suitable for investor consumption. One of the guidelines categorises digital assets as utility tokens, asset-referenced tokens, and e-money tokens.
Bitpanda has more than 3,200 digital assets at its disposal for users to invest, buy, trade and sell. With a broad spectrum of digital assets, as well as 600 different cryptocurrencies, the company needs to ensure each token is MiCA certified before being offered to investors and partners.
While some players within the crypto industry believe MiCA’s regulations are too stringent, companies like Bitpanda are taking the opposite approach, seeing regulatory compliance boosting trust in customers and prospective partners. This has assisted the firm in securing big sponsorship partnerships in sport with the likes of Bayern Munich and AC Milan.
Lukas Enzersdorfer-Konrad, Deputy CEO at Bitpanda, added: “With licences in Austria, Germany and Malta, Bitpanda is ready to scale across the continent with a setup no one else has.
“MiCA sets a clear standard for crypto regulation globally and we will use this framework to offer secure access to crypto for millions across the EU.”
