Europe’s leading Bitcoin broker has managed to secure a Payments Services Directive 2 (PSD2) license from Austrian financial regulators, which will allow it to offer more financial products and services to clients. Bitpanda has been Europe’s home of crypto since 2014, and this new PSD2 license will allow it to reach further into the financial world and attract a new wave of investors. There is only a handful of cryptocurrency exchanges in Europe that currently hold the prestigious PSD2 license, making Bitpanda part of a very exclusive club.
Launching Products All Over Europe
Once a financial technology (fintech) firm has acquired a PSD2 license, they can then begin passporting their financial products all over the European Economic Area (EEA), meaning Bitpanda can start offering more traditional and complex financial instruments. Whether Bitpanda will use its PSD2 license to become a POS merchant or provide banking solutions (including ETFs and ETNs) is yet to be seen, but the potential is now truly unlimited.
Europe is Forward Thinking on Crypto
It’s safe to say that the European Union is fully embracing blockchain technology and cryptocurrencies after issuing Bitpanda a PSD2 license. Just two weeks ago, Europe got its first blockchain ETF – something that is still a long way off in America. The Invesco Elwood Global Blockchain ETF allows investors to gain exposure to top firms that are using blockchain technology or innovating in the industry. Financial instruments like this will eventually be available on Bitpanda, so traditional investors will soon be able to sign up and gain exposure to their favorite markets alongside the crypto domain.
Exchanges Kick Things up a Notch
Crypto exchanges around the globe aren’t resting on their laurels, especially now that the crypto markets are booming once again. Late last week, Liquid announced its new Bitcoin CFDs with 100:1 leverage trading, indicating that the demand for advanced Bitcoin trading options is growing. Only the most advanced traders should be using leverage trading, so this move from Liquid is a clear sign that markets are rebounding and smart investors are getting back into the game.
Bitpanda isn’t likely to roll out new financial products or open up its markets instantly – like all good things, it will take time. The license has only just been issued, so it could take a couple of months before systems and products are in place for Bitpanda to take full advantage of its new PSD2 license.
