Deutsch Börse-owned Crypto Finance and Bitpanda obtain MiCAR licenses from BaFin – Ledger Insights

The German subsidiary of Crypto Finance and Austrian cryptocurrency exchange Bitpanda are among the first wave of companies to obtain MiCAR licenses from BaFin. Crypto Finance is a cryptocurrency exchange owned by Deutsche Börse and headquartered in Switzerland.

The German regulatory body has been slow to initiate licenses because it has not obtained regulation Approval from Parliament Even before Christmas. This was due to the collapse of the German alliance. Aside from bringing pan-European cryptocurrency standards, MiCAR also allows for passporting, enabling any organization with a MiCAR license to operate in other EU countries.

ten days ago, Bors Stuttgart It was the first to obtain a BaFin license. It is one of the most active institutions in the cryptocurrency space in Germany. In 2019, it launched a retail crypto service with Axel Springer. On the institutional side, this is cryptography Partner of DZ Bankwhich has begun rolling out crypto services to the more than 700 community banks it serves.

Crypto Finance and Bitpanda also have institutional partnerships. Crypto Finance It is providing services to Commerzbank For its corporate clients, Bitpanda has a similar deal with a state-owned company LBBW.

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