Bitpanda receives EU payment provider license

Bitpanda receives EU payment provider license

Cryptocurrency brokerage platform Bitpanda has become one of the few crypto companies to receive an EU-approved payment service provider license. The PSD2 license was granted by Austria's Financial Market Authority (FMA). 
Founded in Vienna in 2014, Bitpanda is currently Europe's leading crypto broker for retail customers, with over 1 million users. Being granted this exclusive license means that it will be able to offer a range of new features and services to customers in order to further expand its business.
The PSD2 directive was drawn up in 2015 and launched in January 2016. It was intended to bring the operations of fintech companies in line with traditional financial institutions, as part of an open European market. Individual countries are responsible for evaluating firms adherence to its strictures in order to grant the payment service provider license.

In a blogpost, Bitpanda managing director Philipp Bohrn claimed that the company's 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". 

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