Bitpanda Receives FCA Approval to Operate in the UK

Crypto exchange Bitpanda has expanded its operations into the UK. A recent announcement confirmed that the platform received an operational license from the UK’s Financial Conduct Authority (FCA) to offer over 500 crypto assets to local investors.

Recall that Bitpanda previously halted registration for new UK users due to the FCA’s marketing rules at the time. The crypto exchange’s latest license paves the way for regulatory clearance to offer its full suite of services in the country.

Bitpanda Expands Operation in the UK

Bitpanda also brought crypto-focused services into the UK, such as staking, crypto indices, and savings plans.

The announcement added that banks, financial institutions, and crypto-centric platforms can now tap Bitpanda Technology Solutions (BTS) to offer local investors crypto trading, investments, and custody services.

In January, the Austrian crypto exchange expanded its operations into Europe by receiving a license from the EU’s Markets in Crypto-Assets Regulation (MiCAR). This regulatory clearance allowed Bitpanda to offer its services to users in all EU member states. Although Bitpanda has been operating for years in the UK, the recently bagged license lifts the FCA-imposed restrictions that went into effect last year.

Following Bitpanda’s recent expansion to most major European countries, the exchange’s co-founder and CEO, Eric Demuth, touted the platform as Europe’s top crypto exchange.

“Being Europe’s leading crypto platform means being in the UK - there was no question about it. This was the last missing piece to truly serve all Europeans. Now, our focus is clear: deliver a product that meets the needs of UK investors,” he said.

Having FCA’s endorsement will potentially allow Bitpanda to increase its user base in the country.

More Crypto Exchanges Enter the UK

Notably, Bitpanda is not the only crypto-focused platform operating in the UK. Others have been operating in the country for extended periods, including eToro, Bitget, and Uphold.

Earlier this month, the leading American crypto exchange Coinbase received FCA’s approval to operate in the country after offering limited services for years under a subsidiary.