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European Union Grants Bitpanda a Payment License

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Bitpanda License

Bitpanda is a crypto brokerage firm in Vienna, Austria. The firm revealed that it had received a license from the European Union through a Medium blog post yesterday. The permit would allow it to provide crypto payment services in the country.

According to the announcement, the EU gave the firm a Payment Services Directive 2 (P2D2) license. This permit oversees the operations of payment service providers in the European Economic Area (EEA) and the European Union (EU). The P2D2 license allows the traditional and FinTech industries to work in an open European market to bring the state-of-the-art goods and services to their consumers.

The agency behind issuing the license is Austria’s Financial Market Authority (FMA). Per Eric Demuth, the CEO of Bitpanda, the company is among the few European crypto FinTech firms to get this license. He added that it gives more room for the creation of advanced goods and services. The company has more than one million users and over 100 team members. This development will allow it to grow its business model. In so doing, it will come closer to reaching its goal of joining the old and the new financial worlds.

Philipp Bohrn, one of the two managing directors of Bitpanda said,

Our goal is to bridge the gap between the modern and traditional financial world. The payment service provider license will allow us to tear barriers down.

Services Offered by Bitpanda

Bitpanda’s website claims that the platform is the biggest retail broker for buying and selling cryptocurrencies. It allows the trade of digital currencies such as Bitcoin, Ethereum, Ripple, EOS, and Stellar among other leading coins. The platform lets users make deposits or withdrawals in fiat currencies like the EUR, GBP, CHF, and USD.

Reasons for Bitpanda’s Success

User-friendly Interface

The platform is easy and convenient to use. It gives beginners quick access to the crypto market. For experienced crypto adopters, Bitpanda provides full control of their wallets. It also allows the free transfer of crypto assets between Bitpanda’s users.

Security

The platform uses advanced technology to store customer funds in cold wallets.

Reliability

The Bitpanda platform has a fully automated order system, API-applications, and advanced servers. These allow the buying of digital currencies 24 hours in a day.

A Wide Array of Payment Options

Bitpanda allows its users to withdraw funds from different payment options. These include credit cards, Skrill, and Amazon among others.

Have you ever used Bitpanda? If yes, what is your experience?

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