Bitpanda has launched its digital investment platform in Spain, where residents will be able to invest over 30 digital assets, form cryptocurrencies as bitcoin to precious metals as gold, with a minimum of one euro. The fintech plans to add stocks and ETFs to its offering.
Spanish investors can enjoy a trading experience in their native language and set up a Bitpanda account within minutes via web and app. The trading platform was founded in 2014 in Austria and has managed to attract 1.2 million users all around Europe, whilst leading the industry with regulatory compliance. In March alone, Bitpanda recorded €200 million in trade volume and €3 million in net revenue. The trade volume has grown by 200% year-over-year.
Eric Demuth, Co-CEO and Founder of Bitpanda, commented: “Spain is a country we have been looking forward for years. For Bitpanda, landing in this country is a great opportunity, with thousands of already registered users, who, despite not having the service in their mother tongue, carry out all kinds of operations on a daily basis. Our arrival in Spain is a boost to this market and will allow us to offer a more complete and personalized service to our Spanish users. Our goal for the next several years is to become Europe’s leading neobroker by adding stocks and ETFs and giving everyone in the world access to the financial market.”
Bitpanda has kept strict compliance standards, including the recently introduced AML5 and a PSD2 payment service provider license. The firm has previously launched in France in May and Turkey is planned for August.
In April 2020, Bitpanda announced it has obtained an undisclosed amount of funding in a capital raise led by Speedinvest which will fuel the startup’s international expansion plans as they increase the number of digital and tokenized assets available. “Our goal for the next several years is to transform Bitpanda from a European company into a global one. A company that focuses on democratizing investing and giving everyone in the world access to the financial market. This partnership with Speedinvest is new ground for us since we have been operating profitably and independently for more than five years. But now, it’s about scaling and growing internationally, while adding more and more asset classes, and bringing our financial solutions to new audiences”, said co-CEO Demuth at the time.
In late 2019, the Vienna based crypto trading exchange recently appointed Michael Poetscher a veteran with nearly 9 years of experience in online marketing, to serve as its Chief Marketing Officer. He previously spent seven years transforming an unknown company in a niche market into a world-renowned travel company. Michael’s addition to the firm’s senior-level management team came at time when the exchange reached a milestone of having more than 1 million clients.