Bitpanda Gains Payment Service Provider License from Austrian Regulator

Austrian retail crypto Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term Bitpanda announced that it has received a license to operate as a payment service provider.

The Payment and Services Derivative 2 (PSD2) license was granted by the Austrian market regulator the Financial Market Authority Austria (FSA) and will allow the company to offer its services in both the European Economic Area (EEA) and the European Union, as mentioned in the April 4 press release.

We’re excited to announce Bitpanda has been granted a European PSD2 payment service provider license! What does that mean? We can launch new and innovative features we’ve been planning. Read more about what this means for Bitpanda on the blog https://t.co/nkPUmUfNnw #bitpanda

— Bitpanda (@bitpanda) April 4, 2019

Commenting on the development, Philipp Bohrn, managing director of the company, said: “Our goal is to Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service their clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Met The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service their clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Met Read this Term the gap between the modern and traditional financial world. The payment service provider license will allow us to tear barriers down.”

Formerly known as Coinimal, the company was established in 2014 and, over the years, has become one of the leading crypto buying and selling marketplace in Europe.

“We want to act as the missing link to make digital assets spendable anywhere our users want. With the license, we are a first mover in Europe to offer convenient and innovative features and services,” another MD of Bitpanda and former head of department digitalization and innovation at Austria’s leading banking group Raiffeisen, added.

Building Wealth in Crypto

Last month, Bitpanda introduced a feature called Bitpanda Savings to allow its customers to buy digital assets on a regular basis. The company believes that the feature will help its clients to build wealth with digital assets.

“We are very happy that Bitpanda is one of the few European cryptocurrency fintechs to receive such a license. It’s a big step towards our vision to create an open, innovative investment platform,” said Eric Demuth, CEO of the cryptocurrency company.