06-22-2022 icon

Bitpanda trading platform now regulated in Spain

By Lucy Adegbe

Bitpanda, an Australian-based crypto trading platform with an estimated value of $1.4 billion as of the previous summer has been licensed as a digital currency service provider in the Spanish region.

According to a statement on Tuesday, the company was listed on the website of the bank of Spain registry for digital currency firms on June 16. 

The Bank of Spain reinstated registration for cryptocurrency firms in the past October and Spanish trading platform Bit2Me was the first to be put on the registry around February. 

While Bitpanda has been functioning independently in the Spanish region since 2014 as stated by the company delegate in a Cointelegraph interview, this new license makes Spain the sixth European nation in which it has been registered. 

According to the delegate, “We have applied for registration in every market we have a presence and have already set used registration and licenses as a virtual asset service provider in Italy, Austria, Sweden, France, the Czech Republic, and now Spain. We do of course want to expand our presence in further European markets, but will only do so when we can ensure we are fully compliant with local regulatory requirements.”

Eric Demuth, who is one of the three owners and CEO of the company explained their allegiance to ensuring safe and secure exchange activities even with the current market tumbles.

“As recent market developments have shown, where you buy your digital assets matters and we are going to always be prioritizing the safety of our community, as we are working relentlessly to build the best and the safest investment platform in Europe and beyond.”