Bitpanda’s deputy CEO, Lukas Enzersdorfer-Konrad, stated that the company’s cryptocurrency offering in the UK will not differ from that in the EU.
After receiving regulatory approval from the Financial Conduct Authority (FCA), Bitpanda, an Austrian cryptocurrency platform, is growing its footprint in the UK.
The company stated that it had received approval to offer over 500 cryptocurrency assets in the UK.
Bitpanda deputy CEO Lukas Enzersdorfer-Konrad said, “We currently have well over 500 cryptocurrencies listed on Bitpanda, which will make it the broadest range available to UK investors.”
Additionally, the clearance enables the company to offer a range of cryptocurrency services to investors in the UK, such as crypto indexes, savings plans, and staking.
In 2023, Bitpanda stopped onboarding new members from the UK.
After briefly stopping onboarding new members in the UK in 2023, Bitpanda’s entrance into the country represents a key milestone for the company.
The suspension was a reaction to the FCA’s October 2023 implementation of a more stringent Financial Promotions (FinProm) Regime, which altered the UK’s crypto marketing regulations.
Enzersdorfer-Konrad added, “Since then, current customers have been able to continue using their accounts.”
“With this new approval for brokerage services, we will be able to offer access to over 500 cryptocurrencies as well as staking, savings plans, and other services.”
In addition, the company has a local staff and has been a recognized crypto custody service for business clients in the UK since 2021.
Bitpanda’s crypto products in the UK align with those in the EU market.
After obtaining a license under the European Union’s Markets in Crypto-Assets Regulation (MiCA) framework on January 23, Bitpanda received FCA approval in the UK. Thanks to the license, the company could function in all 27 EU member states under a single regulatory framework.
Enzersdorfer Konrad claims that the company’s cryptocurrency service in the UK will resemble that in Europe.
“With more than 100 new coins listed last year alone, our range is continuously growing,” the deputy CEO added.
“While we’ll always look to provide the best possible range of cryptocurrencies to our users, there are no plans currently to list UK-specific coins. Therefore, our crypto offer in the UK won’t differ from that in the EU.”
Several exchanges, including Coinbase, Crypto.com, and Kraken, have been delisting some tokens, including Tether’s USDt USDT$0.9999, the biggest stablecoin available, citing compliance with MiCA.
Customers in the UK and the EU cannot purchase USDt from Bitpanda.
