Vienna-based cryptocurrency exchange Bitpanda has been licensed as a Virtual Asset Service Provider (VASP) in Norway and will continue to expand its presence in Europe.。Bitpanda strengthens presence in region as Norway joins its list of regulated markets。Currently, the company holds licenses in Austria, Germany, the Czech Republic, France and Sweden.。

In a statement on X (formerly Twitter), the company said: "We have become the first non-local company in Norway to be licensed as a value-added service provider, which further strengthens our position as the most regulated broker in Europe and will make digital asset trading more secure and reliable for millions of new clients.。

BitPanda passes Norwegian agency audit

Due to the country's location outside the EU, this licensing achievement by BitPanda in Norway is significant.。In May, Norway's central bank reportedly said it might not rely on the pan-EU Crypto Asset Market (MiCA) regulation, saying it was insufficient to meet Norway's specific regulatory needs.。

BitPanda has been working to secure regulatory clearance in Europe。Last year, the company registered in Germany as a cryptocurrency custody service and proprietary trading provider.。Its local branch, Bitpanda Asset Management GmbH, has further enriched its services by enabling the cryptocurrency exchange to serve German traders and investors.。

In addition, Bitpanda was granted a cryptocurrency license in Spain last year, expanding its reach and regulatory position.。Bitpanda's entry into the Spanish market comes at a time when several cryptocurrency exchanges are working together to secure regulatory clearance in Europe, and this foray into the Spanish cryptocurrency market was announced by the Bank of Spain.。

Expanding Cryptocurrency Services in Europe

Bitpanda's global reach extends beyond Europe。Last year, the company entered the UK with the acquisition of Trustology, a regulated institutional cryptocurrency escrow wallet provider, and renamed it Bitpanda Custody, expanding its cryptocurrency brokerage services into new areas.。

However, the move raised concerns among regulators as the UK's Financial Conduct Authority (FCA) issued a warning saying it was wary of the takeover.。The FCA reportedly noted that because Trustology was registered under the Money Laundering Ordinance, the regulator could not assess the compliance of the platform's services under the new ownership.。