Bitpanda’s deputy CEO, Lukas Enzersdorfer-Konrad, stated that the crypto offering in the United Kingdom will be identical to that in the European Union.
Summary
Austrian cryptocurrency platform Bitpanda has been granted permission to offer over 500 crypto assets in the UK, making it the largest selection for buyers in the country. The approval also allows Bitpanda to offer various crypto services, such as staking, savings plans, and crypto indexes, to UK investors. Bitpanda’s crypto offerings in the UK are consistent with those in the European Union, with no plans to list UK-specific cryptocurrencies.
After obtaining regulatory sanction from the Financial Conduct Authority (FCA), Austrian cryptocurrency platform Bitpanda is expanding its operations in the United Kingdom.
Bitpanda, in a declaration shared with Cointelegraph on February 12, announced that it had been granted permission to offer over 500 crypto assets in the United Kingdom.
“We have more than 500 cryptocurrencies listed on Bitpanda right now,” Lukas Enzersdorfer-Konrad, deputy CEO of Bitpanda, told Cointelegraph. “This will make it the largest selection for buyers in the UK.”
The approval also enables Bitpanda to offer a diverse array of crypto services, such as staking, savings plans, and crypto indexes, to UK investors.
Bitpanda Suspends Enrollment for New UK Users in 2023
After temporarily suspending the registration of new users in the United Kingdom in 2023, Bitpanda has achieved a significant milestone with its expansion into the country.
In October 2023, the Financial Conduct Authority (FCA) implemented a more stringent Financial Promotions (FinProm) Regime, which resulted in the suspension of UK crypto marketing regulations.
“Since that time, existing clients have been permitted to continue utilizing their accounts,” Enzersdorfer-Konrad stated.
“We will be able to provide access to over 500 cryptocurrencies, as well as staking, investment plans, and other services, with the recent sanction for brokerage services.”
Bitpanda, on the other hand, has had a local team in the UK since 2021 and has been a registered crypto storage service for business clients there.
Bitpanda’s cryptocurrency offerings in the United Kingdom are consistent with those in the European Union.
Bitpanda received FCA approval in the United Kingdom on January 23, following the acquisition of a license under the European Union’s Markets in Crypto-Assets Regulation (MiCA) framework. Bitpanda was able to operate in all 27 EU member states under a unified regulatory framework as a result of the license.
According to Enzersdorfer-Konrad, Bitpanda’s cryptocurrency offerings in the United Kingdom will be comparable to those in Europe.
The deputy CEO stated, “Our selection is continuously expanding, with more than 100 new coins listed in the past year alone.”
“We are committed to offering our consumers the widest selection of cryptocurrencies possible but there are no current intentions to list UK-specific cryptocurrency. Therefore, our crypto offer in the UK will be identical to that in the EU.”
Multiple exchanges, such as Coinbase, Crypto.com, and Kraken, have been delisting certain tokens, including Tether’s USDt, the largest stablecoin on the market, following MiCA.
A spokesperson for Bitpanda informed Cointelegraph that the company will not provide USDt to its consumers in the UK or the EU.
Also Read: FCA Permit Obtained by Coinbase:
Coinbase has become the largest registered crypto exchange in the United Kingdom after obtaining FCA approval. The Financial Conduct Authority (FCA) has granted Coinbase the official VASP (Virtual Asset Service Provider) registration, allowing them to provide both cryptocurrency and cash services to investors and merchants in the country. This is Coinbase’s largest international market, as only 14% of applicants receive approval from the FCA. Coinbase UK CEO Keith Grose believes this approval provides opportunities to introduce innovative products and services to UK customers. The UK has been a significant player in the global crypto market, with an increase in cryptocurrency ownership from 10% to 12% in 2024. Coinbase’s VASP registration in the UK aims to attract an additional influx of individuals into the cryptocurrency market…[Read More]
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