Bitpanda obtains German crypto license as crypto platforms want to prove they are legit

The collapse of FTX is causing a lot of attention. Today's news from Bitpanda is important for the Austrian company. Bitpanda was granted a license from Germany's financial regulators.

The company's German subsidiary can now process cryptocurrencies for customers in Germany. It doesn't need to follow passporting rules. BaFin has a limited number of licensed companies that are listed in their database.

One of the well-known companies is Coinbase. The company is based in the U.S. Bitpanda is the first European retail investment platform to meet these requirements.

Bitpanda has licenses with the Austrian and French regulators. These licenses are an advantage when it comes to partnerships with other European companies.

Lydia has a partnership with Bitpanda that will allow it to offer both stock and stock options to its customers. Lydia is very popular in France.

As you can see in the illustration at the top of the article, N26 has recently launchedcryptocurrencies in Austria. This is the first step in the expansion of the German mobile bank's trading of tHe digital currency. The partnership discussions were affected by the fact that Bitpanda applied for licenses in Germany and France.

Eric Demuth, co-founder and CEO of Bitpanda, said in a statement that they set the highest standards for themselves. In my opinion, this principle is critical to the long-term success of our industry. Our top priority is the security of our customers and partners.

Bitpanda has received regulatory approvals in a number of countries, including France, Germany, Austria, and the U.K.

There will be more regulations in the future. It is clear that the company wants to appear as a responsible company for European investors.

FTX is regulated by the Cyprus Securities and Exchange Commission and passported to the European Economic Area.

We want to make investing easy for our customers. Demuth said that a strict separation of customer and company assets is sadly not the case in today's world.

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