Key Highlights:

• Bitpanda has secured a MiCA license from the German regulator BaFin.
• Competitors OKX and Crypto.com have also received MiCA licenses from Malta.
• The licenses facilitate operations across the 30-member European Economic Area (EEA).

Crypto exchange Bitpanda has announced it has obtained a Markets in Crypto Assets (MiCA) license from the German Federal Financial Supervisory Authority (BaFin). Similarly, rivals OKX and Crypto.com confirmed receiving their licenses from Malta as part of the European Union’s new licensing framework, which opens up markets in the EEA.

The implementation of MiCA regulations allows license holders to operate across the EEA seamlessly, avoiding the need for approval from individual nations. The EEA comprises the 27 EU countries plus Iceland, Liechtenstein, and Norway.

Bitpanda, based in Austria, reported having six million users as of December and aims to harness this license to boost its growth significantly.

“This milestone enables us to bring easy and safe investing to over 450 million people, unlocking unparalleled growth potential in a market we’re ready to fully conquer,” stated Eric Demuth, CEO and co-founder of Bitpanda.

The company joins Boerse Stuttgart Digital, the first holder of a MiCA license granted by the German authority, as well as other known entities, including MoonPay, BitStaete, ZBD, and Hidden Road.

Crypto.com’s COO, Eric Anziani, commented, “The approval means we can streamline operations to ensure both compliance and seamless cross-border activity.”