Europe’s BitPanda Receives a PSD2 Payment Service Provider License
A European crypto broker called BitPanda has finally received its PSD2 Payment Service License. The company has made the official announcement on social media.
According to BitPanda, the company has applied for the license with the Austrian Financial Market Authority (FMA) some time ago and they just received their license, which is recognized by the European Union. This was considered to be a major milestone for the group since it will now be able to launch more regulated products for investors.
The company was one of a few Europeans companies able to pull off this feat. It already has around a million clients and 100 team members and now the company will have a chance to expand its business even more.
Philipp Bohrn, the managing director of BitPanda, has affirmed at the occasion that the main goal of the company at the moment is to be able to bridge the huge gap that exists between the most modern and the traditional financial market. This, he believes, will be important in order to create a new and more dynamic market.
Before managing this company, Bohrn was the responsible person to manage the Association of Financial Service Providers in the Commerce Chamber of Austria for around nine years, so he started out on the company while being a very experienced executive.
The other managing director of the company is Lukas Enzedorfer-Konrad. He acted as the head of Austria’s leading banking group Raiffeisen in the department of innovation. Now, he agrees with his partner, saying that the company intends to be the missing link that will help the clients to use their assets the best possible way they can.
With the help of this new PSD2 license, the two will offer new services in the European Union and they plan to leverage this new possibility to reach their goals with important investors.
About The PSD2 License
The Payment Services Directive 2 (PSD2) license is given by the European Union to companies who are able to show that they can be responsible service providers in the payment industry.
With the license, they are able to operate in the European territory in a fully compliant way.
We’re excited to announce Bitpanda has been granted a European PSD2 payment service provider license! What does that mean? We can launch new and innovative features we’ve been planning. Read more about what this means for Bitpanda on the blog https://t.co/nkPUmUfNnw #bitpanda
— Bitpanda (@bitpanda) April 4, 2019
Many banks and traditional services aim to get this license, so it was a huge win for BitPanda to be able to do it.
The CEO of BitPanda, Eric Demuth, affirmed that not many European fintechs are able to get the license and that this makes the platform very special. Now, they are a step closer to create new products and realize their vision.