Bitpanda Secures FCA Approval, Expands Crypto Services in the UK

Austrian cryptocurrency platform Bitpanda has officially expanded its footprint in the United Kingdom after receiving regulatory approval from the Financial Conduct Authority (FCA). With this green light, Bitpanda is set to offer UK investors access to over 500 crypto assets, marking one of the broadest selections available in the country.

“We currently have well over 500 cryptocurrencies listed on Bitpanda, which will make it the broadest range available to UK investors,” Bitpanda’s deputy CEO Lukas Enzersdorfer-Konrad stated in an announcement shared on Feb. 12. Beyond spot trading, the platform will also introduce services such as staking, crypto savings plans, and index-based investment options.

The approval is 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. Under the new framework, crypto firms faced stricter advertising and marketing regulations, forcing Bitpanda to reevaluate its UK strategy.

“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,” Enzersdorfer-Konrad said.

Bitpanda’s Comeback After Regulatory Challenges

Bitpanda’s return to the UK market underscores its commitment to regulatory compliance and long-term expansion. While the platform continued to serve existing customers despite the 2023 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, demonstrating its established presence in the market. The company has also recently secured a license under the European Union’s MiCA framework on Jan. 23. This license enables Bitpanda to operate seamlessly across all 27 EU member states, creating a unified regulatory approach for its European users.

No UK-Specific Tokens, but an Expanding Portfolio

According to Enzersdorfer-Konrad, UK investors will have access to the same range of cryptocurrencies as their European counterparts. “Our range is constantly expanding, with over 100 new coins listed last year alone,” he stated. However, he clarified that there are no immediate plans to list UK-specific tokens.

Meanwhile, other major exchanges, including Coinbase, Crypto.com, and Kraken, have begun delisting certain tokens, such as Tether’s USDT, to ensure compliance with MiCA regulations. As Bitpanda expands its reach, the platform’s adherence to both UK and EU regulations could position it as a leader in the crypto space.