Bitpanda Secures MiCA License, Unlocks EU Market of 450M Users

Bitpanda, a leading crypto exchange, has secured a significant milestone in its expansion across Europe. The Austria-based company has obtained a Markets in Crypto-Assets (MiCA) license from the German Federal Financial Supervisory Authority (BaFin). This license enables Bitpanda to operate across the European Union's 27 nations, unlocking a vast market of over 450 million potential users.

Bitpanda, which had 6 million users as of December, aims to accelerate its growth with this new license. Eric Demuth, CEO and co-founder of Bitpanda, expressed his enthusiasm about this development, stating that it will enable the company to bring easy and safe investing to a broader audience and unlock unparalleled growth potential in the European market.

Bitpanda joins a select group of companies that have received MiCA licenses from BaFin. Other recipients include Boerse Stuttgart Digital, MoonPay, BitStaete, ZBD, and prime brokerage and clearing company Hidden Road. The MiCA regulatory framework, which entered full effect on Dec. 30, 2024, provides a unified regulatory regime for crypto asset service providers (CASPs) across the EU.

With MiCA now in full force, Bitpanda co-founder and CEO Eric Demuth emphasized the importance of consistent and robust enforcement of the regulation. He expressed concerns about foreign CASPs that continue to operate without adhering to the new rules, which could undermine the effectiveness of the regulatory framework. Demuth called on the EU to take action against these non-compliant entities to ensure a level playing field for those CASPs that strive to comply with European regulation.

Demuth also highlighted the need for European lawmakers to keep pace with regulatory developments in other parts of the world, particularly the United States. He praised the US for its speed and determination in positioning itself as a global crypto hub and suggested that the EU should adopt a similar approach to maintain its competitive advantage in the sector.

Bitpanda is the second CASP to secure BaFin's MiCA license after Boerse Stuttgart Digital Custody, which received the license on Jan. 17. Boerse Stuttgart Digital Custody is a subsidiary of one of the largest exchange groups in Europe.