Bitpanda receives license from Austria’s FINMA
Home News Bitpanda receives license from Austria’s FINMA
Matthias Nemack –
The service provider Bitpanda allows, among other things, the crypto-trade. By the new FiNMA license, the company wants to be even more active.
One of the few licensed providers in the EU
Also the way to the larger establishment of the crypto division, outside of the – global – right-small circle of investors, the buy Bitcoin or Ethereum, plays the subject of state regulation and recognition of a basic role. The message to the service provider Bitpanda could be so, at least within Europe, is of great significance, and open new doors. As “Europe’s leading trading platform for Bitcoin, IOTA, and more” is part of the Portal to the better-known operators in Europe. The Fintech companies can now advertise in order to be the holder of an official license as a payment institution. The same authorisation, the provider of payment services received by the financial market authority of its home country, Austria.
Successful application test opens up Bitpanda new opportunities
The FMA has now issued after a detailed examination of the application the share. The basis of the decision of the PSD2. Behind the acronym, the “Payment Services Directive 2”, implemented by the European Union as a regulatory Directive not only for the EU itself, as well as in addition, of the European economic area. Their success, the Austrian Bitpanda group sees as an industry-wide important step. Not less than a milestone is the approval by the FMA for the market. Now, it will be quickly a new products and additional Fintech functions on the market created to hold existing customers and to new private customers as well as commercial and institutional buyers and to win the appeal.
New asset classes and financial services should rapidly emerge
The overarching objective of the company Bitpanda followed according to his own statement, that the Bridging of the still existing differences between the traditional financial sector, and the crypto-market with digital currencies such as Ripple or Litecoin, as well as new digital assets, which are caused by the increasing Opening-up gradually. To this step, want to Bitpanda self-develop quickly create new Assets that have only a little to do with digital currencies. The Bitpanda Payments GmbH sees itself as a “missing link” that would offer users well in many Places Digital Assets. The number of state-licensed service providers in the EU can be counted currently being literally on one Hand.
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