Austrian cryptocurrency exchange Bitpanda is expanding its operations in the United Kingdom following regulatory approval from the Financial Conduct Authority (FCA). The platform will now offer British investors access to over 500 crypto assets alongside services like staking, savings plans, and crypto indices.
Key Developments
- Regulatory Milestone: Bitpanda received FCA approval to operate as a crypto asset firm in the UK, aligning its services with EU standards under MiCA regulations.
- Service Expansion: UK users gain access to 500+ cryptocurrencies, staking, and savings products—mirroring Bitpanda’s EU offerings.
- Strategic Rebound: The approval marks Bitpanda’s return to the UK market after pausing new user onboarding in 2023 due to stricter FCA financial promotion rules.
Bitpanda’s UK Relaunch
In 2023, Bitpanda temporarily halted accepting new UK users to comply with the FCA’s FinProm regime, which imposed stricter guidelines on crypto advertising. Existing customers retained account access during this period.
"With this new brokerage approval, we can now offer UK users our full suite of services, including staking and diversified crypto portfolios," said Lukas Enzersdorfer-Konrad, Bitpanda’s Deputy CEO.
The platform has maintained a local UK team since 2021 and previously served business clients as a registered crypto custodian.
Unified Services Across the UK and EU
Bitpanda’s UK expansion follows its January 2024 licensing under the EU’s Markets in Crypto-Assets (MiCA) framework, enabling seamless operations across 27 member states.
- No UK-Specific Tokens: Bitpanda confirms its UK crypto listings will match EU offerings, with no plans for region-exclusive assets.
- Stablecoin Policy: Unlike competitors delisting USDT, Bitpanda will not offer Tether (USDT) to UK/EU users, prioritizing regulatory compliance.
Industry Context
Major exchanges like Coinbase and Kraken have adjusted token offerings to align with MiCA, particularly for stablecoins. Bitpanda’s strategy reflects a cautious approach to evolving regulations while maintaining service continuity.
FAQs
Q: What services does Bitpanda now offer in the UK?
A: UK users can trade 500+ cryptocurrencies, stake assets, and enroll in savings plans—identical to Bitpanda’s EU platform.
Q: Why did Bitpanda pause UK operations in 2023?
A: The halt responded to the FCA’s stricter financial promotion rules, requiring compliance adjustments.
Q: Will Bitpanda list UK-exclusive cryptocurrencies?
A: No. The UK catalog mirrors the EU’s, ensuring uniformity across markets.
Q: Does Bitpanda support USDT in the UK/EU?
A: No. Bitpanda excludes Tether (USDT) to adhere to regional regulations.
👉 Explore Bitpanda’s compliant crypto services
Note: Bitpanda’s FCA approval underscores its commitment to regulated expansion, balancing innovation with compliance in dynamic markets.
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