Bitpanda Receives EU-Wide MiCAR License and Plans Further Growth

OrganizationsOther ♦ Published: January 27, 2025; 22:03 ♦ (Vindobona)

The Viennese crypto platform Bitpanda is one of the first companies to receive the coveted MiCAR license. This license, issued by the German Federal Financial Supervisory Authority (BaFin), has been fully valid since January 2025 and enables crypto service providers to operate their business within the European Union under a uniform legal framework.

Bitpanda GmbH is authorized to trade cryptocurrencies and hold them in custody for customers under comprehensive regulatory licenses. These licenses cover the entire European Economic Area. / Picture: © Wikimedia Commons; Johannes Maximilian, CC BY-SA 4.0 DEED (https://creativecommons.org/licenses/by-sa/4.0/deed.en)

The Markets in Crypto Assets Regulation (MiCAR) marks a turning point for regulating cryptocurrencies in Europe. For the first time, it lays down comprehensive rules for cryptocurrency issuers and providers of cryptocurrency-related services. The regulation aims to increase transparency and security, better protect investors, and create Europe-wide standards for the industry.

Bitpanda, which was founded in Vienna in 2014, has developed into one of the leading crypto brokers in Europe since its establishment. With the new license, the company is underpinning its pioneering role and intends to use this to further expand its offering. According to the company, Bitpanda already had six million users at the end of 2024 - a considerable increase since the one million mark in 2019. With the new regulatory basis, Bitpanda expects a further growth spurt in 2025.

Advantages of the MiCAR license for Bitpanda

The MiCAR license brings both challenges and opportunities for providers such as Bitpanda. While regulatory requirements are becoming stricter, the license offers the possibility to offer services across Europe without additional approvals. This reduces operational complexity and at the same time opens up cost-efficient scaling potential. According to Bitpanda, this will help to consolidate its position as a trustworthy and innovative platform.

Eric Demuth, CEO and co-founder of Bitpanda, said: “With this license, Bitpanda is setting a new standard for the crypto industry and paving the way for secure and regulated services across Europe. Our users benefit from increased security and transparency, while we as a company can react flexibly to new markets.”

Strict rules for greater security

The MiCAR license means stricter monitoring for crypto providers and requires extensive transparency and disclosure obligations. Among other things, this concerns the safekeeping of assets, the safeguarding of risk management processes, and the protection of investors from potential losses. At the same time, the uniform legal framework offers investors a high level of trust and security, which makes the entire sector more attractive.

Bitpanda was already licensed and operating in several European countries before the introduction of the MiCAR regulation. However, the new license will allow the company to operate more efficiently and offer cross-border services without additional regulatory hurdles.

Growth and future plans

Looking to the future, Bitpanda plans to expand its services not only for private clients but also for institutional investors. The company wants to focus more on innovative products and appeal to both beginners and experienced users.

Another focus is on user training and information. Transparent communication and user-friendly platforms are intended to further strengthen trust in cryptocurrencies. Bitpanda currently employs around 700 people and the company plans to further increase its workforce to meet the growing demands. For Bitpanda, this is not only an important milestone in the company's history, but also a unique opportunity to fully exploit the potential of cryptocurrencies in the European market.

Bitpanda

European Union