BaFin grants EU crypto licences to Bitpanda and Crypto Finance

The two newly licenced entities cater to distinct market segments within the emerging EU crypto landscape. BaFin issued these licences under the EU's Markets in Crypto Assets Regulation (MiCAR), which came into effect in late 2024. 

Bitpanda positions itself as a European crypto platform, focused primarily on private consumers and using extensive advertising strategies. Crypto Finance, part of the Deutsche Börse's Crypto Finance Group, aims to provide crypto services solely to institutional clients and businesses.

Among Crypto Finance's clientele is Commerzbank, which has been offering secure custody and trading services for crypto assets to its corporate clients in Germany since September 2024.

Officials from Crypto Finance stated that the licence will position the company as one of the service providers in the European Union to broaden its offerings, delivering future clients a wider array of regulated crypto solutions designed to cater to their institutional requirements. Meanwhile, representatives from Bitpanda, expressed that with the MiCAR licence, the company is offering secure, regulated access across the entire European Union.

Recent development from Bitpanda

In November 2024, Bitpanda revealed its intention to implement Eventus’ Validus platform to address its trade surveillance requirements and regulatory obligations.

This decision followed thorough evaluation of its trade surveillance solution providers, leading Bitpanda to choose Eventus for automating the identification and prevention of market abuse, manipulation, and insider trading. Furthermore, Bitpanda teamed up with Societe Generale-FORGE to enhance the accessibility and use of the MiCA-compliant stablecoin, EUR CoinVertible. This partnership aimed to promote the broader adoption of digital assets by offering stablecoins through a regulated platform.