Agency Report –
German banking regulator BaFin has granted the companies Crypto Finance and Bitpanda a coveted licence for cryptocurrency services across the European Union, the two companies announced separately on Monday.
The two new license holders serve different market segments in the emerging EU crypto market. BaFin granted the licences under the EU’s Markets in Crytpo Assets Regulation (MiCAR), which went into effect in late 2024.
Bitpanda claims to be Europe’s leading crypto platform and primarily targets private consumers, including through extensive advertising.
Crypto Finance, which is part of German financial trading giant Deutsche Börse’s Crypto Finance Group, is aiming to offer crypto services exclusively to institutional clients and companies.
Crypto Finance’s customers include Commerzbank, which has been offering its corporate clients in Germany a service for the secure custody and trading of crypto assets since September.
Eric Viohl, managing director of Crypto Finance, said that the licence will enable his company to be one of the first service providers in the European Union to expand its offering and provide future clients “a broader range of regulated crypto solutions, tailored to meet their institutional needs.”
Eric Demuth, chief executive and co-founder of Bitpanda, said that with the MiCAR license, his company is opening up secure, regulated access for the whole of the European Union.
“This milestone enables us to bring easy and safe investing to over 450 million people, unlocking unparalleled growth potential in a market we’re ready to fully conquer,” Demuth said in a company blog post announcing the news on Monday.
Bitpanda has reported accelerated growth over the past 12 months. In the second half of 2024 alone, the number of users rose from 5 million to 6 million.
The first licence issued under the EU-wide MiCAR regulations was awarded to the Dutch service provider ZBD in December.
The Stuttgart Stock Exchange also subsequently secured MiCAR licences.
By Christoph Dernbach
