Bitpanda, Europe’s cryptocurrency platform, has secured in-principle approval from the Virtual Assets Regulatory Authority (VARA) in less than eight months after submitting its application.
The platform officially began its operations in the UAE under the name Bitpanda Broker MENA DMCC, marking its first foray into markets outside Europe, as stated in a recent press release.
Earlier this year, Bitpanda opened its Dubai office at the DMCC Crypto Centre and formed strategic partnerships with financial institutions such as RAKBANK and CoinMENA, one of the UAE’s top licensed cryptocurrency platforms.
This expansion is part of Bitpanda’s broader strategy to drive global adoption of digital assets while ensuring compliance with regulatory standards, providing investors in the UAE and the wider MENA region with a secure and seamless experience.
Eric Demuth, Co-Founder and CEO of Bitpanda, shared: “We are scaling our proven model globally, with Dubai and the UAE as our strategic launchpad for international growth.”
Fabian Reinisch, General Counsel of Bitpanda, added: “For over a decade, we have shown that a compliance-first approach is key to sustainable and responsible growth in this sector. Now, we are applying this approach to new markets beyond Europe.”
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