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Austrian Crypto Firm Bitpanda Secures EU Payment Service Provider License

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Austrian crypto firm Bitpanda has received the payment service provider license (PSD2) issued by the Austrian financial market authority (FMA) in accordance with European law. Bitpanda is Europe's leading retail broker for buying and selling cryptocurrencies such as Bitcoin, Ethereum, IOTA and more.

PSD2 is the European Union's second Payment Services Directive to regulate payment service providers throughout the EU and the whole European Economic Area (EEA). Its aim is that everyone from traditional banks to fintechs like Bitpanda is able to participate in an open European market.

Bitpanda is one of the few European cryptocurrency fintechs to receive the PSD2 license. It will position Bitpanda to broaden its business model and introduce new regulated and innovative services in the coming months.

With about a million users, Bitpanda is able to expand its business model to get closer to its vision of bridging the gap between the modern and traditional financial world.

Bitpanda's Joint Managing Director Lukas Enzersdorfer-Konrad said, "We want to act as the missing link to make digital assets spendable anywhere our users want. With the license, we are a first mover in Europe to offer convenient and innovative features and services."

Bitpanda is one of the oldest and largest Bitcoin exchange platforms in Europe and is also among the first cryptocurrency companies to receive the PSD2 license.

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