Bitpanda Unleashes 500+ Cryptos in UK After FCA Nod

Bitpanda, an Austrian cryptocurrency platform, has secured regulatory approval from the UK's Financial Conduct Authority (FCA), enabling it to expand its services in the country. This approval allows Bitpanda to offer UK investors access to over 500 crypto assets, one of the broadest selections available in the UK.

Bitpanda's deputy CEO, Lukas Enzersdorfer-Konrad, announced the expansion on Feb. 12, stating that the platform will provide UK investors with access to over 500 cryptocurrencies, along with services such as staking, crypto savings plans, and index-based investment options. This approval marks a significant milestone for Bitpanda, which had previously paused new user onboarding in the UK due to the FCA's tightened Financial Promotions (FinProm) regime in late 2023.

Bitpanda's return to the UK market demonstrates its commitment to regulatory compliance and long-term expansion. While the platform continued to serve existing customers during the onboarding suspension, it actively worked towards securing the necessary approvals to fully resume operations. In addition to its UK expansion, Bitpanda has held a crypto custody license for business clients in the country since 2021, further solidifying its presence in the market. The company has also recently secured a license under the European Union's MiCA framework on Jan. 23, enabling it to operate seamlessly across all 27 EU member states.

UK investors will have access to the same range of cryptocurrencies as their European counterparts, with over 100 new coins listed on the platform last year alone. However, Bitpanda has no immediate plans to list UK-specific tokens. As Bitpanda expands its reach, its adherence to both UK and EU regulations could position it as a leader in the crypto space, alongside other major exchanges such as Coinbase and Crypto.com, which have also been working to ensure compliance with MiCA regulations.