German regulator gives EU crypto licenses to BitPanda, crypto finance provider

German banking regulator Bafin has granted companies Crypto Finance and Bitpanda a coveted license for cryptocurrency services across the European Union, the two companies announced separately on Monday.

The two new license holders serve different market segments in the emerging EU crypto market. Bafin has been granted licenses under the EU Markets in Crytpo Assets Regulation (MICAR), which comes into effect in late 2024.

Bitpanda claims to be a leading crypto platform in Europe and mainly targets private consumers, including through broad advertising.

Crypto Finance, which is part of the German financial trading giant, Deutsche Börse, aims to offer crypto services exclusively to institutional clients and businesses.

Crypto Finance clients include CommerzBank, which has been offering its corporate clients in Germany a service for the secure custody and trading of crypto assets since September.

Eric Feuhl, managing director of Crypto Finance, said the license will enable his company to be one of the first providers in the EU to expand its offerings and provide future clients with “a wide range of regulated crypto solutions, tailored to meet their institutional needs.”

Eric Demuth, CEO and co-founder of Bitpanda, said that with the Micar license, his company opens up secure and regulated access to the entire European Union.