European cryptocurrency platform Bitpanda is gearing up to broaden its reach within the º£½ÇÊÓƵ market, having secured the green light from the City watchdog.
The Financial Conduct Authority (FCA) has given Bitpanda the thumbs-up to introduce its extensive range of 500 cryptocurrencies to British investors, as reported by .
Bitpanda's foray into the º£½ÇÊÓƵ intensifies the heat on traditional banks, which are already grappling with the innovative prowess of fintechs and challenger banks.
Speaking to City AM, Deputy CEO Lukas Enzersdorfer-Konrad laid out the stark options for º£½ÇÊÓƵ banks: "The choice for º£½ÇÊÓƵ banks is clear – either they develop a solution to offer trading to their users, or those users will look for an alternative."
He continued: "People want their money to do more, they want more choice in what they can invest in and when and how they can invest."
"They want convenience but not at the cost of security."
Enzersdorfer-Konrad pointed out that it was precisely this consumer demand that gave rise to fintechs and challenger banks, urging traditional banks to leverage platforms like Bitpanda to "deploy a world class solution in a few months, rather than an in-house version that might take years."
"On the broker side we think there is a huge opportunity to deliver secure crypto trading to millions of investors."
"The demand is there, people want simple access to the market with a company they can trust," he elaborated to City AM. The Vienna-headquartered firm is set to make a "bold statement" as it brings its staking, savings plans, and crypto indices to the º£½ÇÊÓƵ clientele.
Eric Demuth, CEO and co-founder of Bitpanda, has expressed his firm's unwavering commitment to º£½ÇÊÓƵ expansion, describing the market as "the last missing piece to truly serve all Europeans". He stated: "Now, our focus is clear: deliver a product that meets the needs of º£½ÇÊÓƵ investors. " He further added, "We’re ready to welcome British investors and take Bitpanda to the next level."
