The German financial authority, BaFin, has finally licensed Bitpanda to conduct business related to crypto and crypto assets in Germany. This license gives Bitpanda the freedom to conduct business legally in Germany. Upvest, Tangany, Kapilendo, and Coinbase were the other crypto firms that procured this license before, yet Bitpanda claims to be the first crypto firm in retail to acquire the license because they are based in Austria. Technically, Coinbase was the first retail crypto platform to achieve this feat.
Bitpanda has already acquired a crypto custody license in countries like Spain, the United Kingdom, Italy, Sweden, France, the Czech Republic, and Austria. Ever since the FTX crypto exchange collapsed, the legal system has become stricter regarding all crypto transactions.