Bitpanda, the Viennese cryptocurrency brokerage platform confirmed in an official blog post, that it has received a license to operate as a payment service provider in Austria. The blog post published on April 4, 2019. European Union grants payment licence to Bitpanda.
The company received an order that provides oversight into the operation of service providers in both the European Economic Area (EEA), as well as the European Union. This ‘order’ is known as the Payment Services Directive 2(PSD2) license.
With this permit, businesses in the European monetary and technological space can dispatch new products and services for clients. Also, it will follow clear guidelines on the most proficient method to work inside their regular market. The Austrian regulator and watchdog, Financial Market Authority (FMA) issued Bitpanda’s PSD2.
Bitpanda has kept any future expansion strategies hush-hush. Yet acquiring the PSD2 permit implies the firm can now participate in banking functions. Also, be able to offer new payment arrangements over and above its crypto services.
As per the blog entry, managing director Philipp Bohrn said:
“Our goal is to bridge the gap between the modern and traditional financial world……..The payment service provider license will allow us to tear barriers down.’’
Lukas Enzersdorfer-Konrad, who is Bitpanda’s head of financial services and co-managing director, added that the company’s goals are to “make digital assets spendable anywhere [their] users want.”
Originally set up in 2014 as Coinimal, Bitpanda has established itself as a standout amongst the most well known and reliable platforms to buy bitcoin inside the Eurozone.