Austria-based cryptocurrency exchange BitPanda has recently secured regulatory approval from the UK’s Financial Conduct Authority (FCA), allowing the firm to offer its services to British investors. The announcement, made on Wednesday, February 12, marks a significant milestone for the Vienna-headquartered company, which has now been authorised to operate within the UK. In order to meet the FCA’s stringent requirements, BitPanda has aligned its operations with the UK’s anti-money laundering and counter-terrorist financing regulations. This approval also allows the exchange to promote its services in the UK, provided it follows specific guidelines, such as including financial risk disclaimers in its advertisements.
As part of its expansion into the UK market, BitPanda is set to introduce a new crypto-based savings strategy. This innovative feature is designed to help users automate their asset purchases on a weekly, biweekly, or monthly basis, enabling them to steadily build a long-term savings reserve. The ‘set-and-forget’ nature of this strategy allows users to invest without having to actively manage their purchases, making it easier for them to engage in regular crypto investing.
BitPanda CEO Eric Demuth expressed excitement about the company’s future in the UK, stating that they will be “gearing up to bring our best-in-class investment platform to the UK market” in the coming month. Since its launch in 2019, BitPanda has attracted over six million customers and has already expanded its footprint in the European market. In January, the firm successfully completed MiCA registrations in the EU region, further cementing its global expansion strategy.
In addition to its FCA approval, BitPanda has established a physical presence in the UK, securing an office address in London to head its operations in the region. The company’s next steps include collaborating with UK banks, financial institutions, and other crypto firms to integrate its “regulated infrastructure” into their services. Through its BitPanda Technology Solutions (BTS) arm, the exchange aims to provide seamless crypto trading, investment, and custody services to major banks and fintechs in the UK, all under full regulatory oversight. This integration will further strengthen BitPanda’s position in the growing global cryptocurrency market.
