Crypto Adoption Boom: Bitpanda Gets German Crypto License

The mass adoption of crypto and the underlying tech the blockchain continues at a rapid pace. It’s been reported that some pretty exciting moves are taking place in the crypto space following the latest dramatic events involving FTX. Check out the latest news below.

It’s been just reported that the Austrian exchange Bitpanda has obtained a crypto license in Germany through its local unit. This is what the company said Tuesday.

With the license from the German Federal Financial Supervisory Authority (BaFin), Bitpanda Asset Management GmbH can independently offer crypto custody, as well as proprietary trading for crypto assets for German residents.

“Additionally, Bitpanda will be able to maintain an order book and directly market services for crypto assets, enabling them to provide a secure and regulated environment for German customers to invest in a wide range of cryptocurrencies,” the company said in a press release.

The German license was months in the making, Bitpanda co-founder and CEO Eric Bemuth said in a statement to the press.

“That means being regulated and it means a strict separation of customer and company assets, which is sadly not the case everywhere these days,” Bemuth said. He was seemingly referring to reports that say FTX misused customer funds for conducting risky trades.

The story of FTX’s collapse has been present in the crypto space for a while. There’s been a terrible aftermath, and following the tragic event, trust in the crypto space has been shattered. There are a lot of important names in the crypto space that has addressed the issue, and now, Binance’s CZ also has something to say about it.

In a new CNBC interview, Changpeng Zhao says that he received a call from Bankman-Fried within 48 hours after tweeting his firm’s plans to liquidate its FTT holdings. Check out our previous article in order to learn more details about this.