Bitpanda launches New Crypto Exchange in Austria

Bitpanda launches New Crypto Exchange in Austria
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As the growth of digital cryptocurrency exchanges expands globally, Bitpanda, who has its home in Vienna, Austria, has launched a new cryptocurrency exchange.  This latest exchange medium offers dealers and organizations the opportunity to transact crypto-to crypto and also Fiat to crypto trading, Fiat being legal tender that has no real value but that is deemed as money and controlled by government legislation.

Trading on the new exchange to be known as Bitpanda Global Exchange is set to start in August. Having been in operation for five years, Bitpanda is a trading medium that offers users not only the option of trading cryptocurrencies but also of selling and the safekeeping of these online assets which include Bitcoin, Ether, and computerized gold. All of this is retained in Europe. Having a client base of nearly one million, the company also employs hundreds of personnel.

The offerings of Bitpanda

The Chief Executive Officer of Bitpands, Eric Demuth, set out the goals of Bitpanda in a recent media release where he stated that Bitpanda aims to become the largest exchange platform for the Euro.  The unique trading opportunities offered by Bitpanda set them aside from other platforms that trade cryptocurrencies.  Their business experience makes them an integral part of the crypto trading world in Europe, and they have built on the knowledge they have gained together with the collaboration with others since inception.

The Bitpanda Global Exchange Launch

Several well known and commonly used trading pairs will be supporting the Bitpanda Global Exchange when they launch in August. The Bitpanda Global Exchange will look to add to this list in coming months.  All users who have been validated can use the exchange the deposit of Euro, Swiss Franc, and the British Pound,

The Bitpanda Global Exchange will offer a personal form of trading known as the Bitpanda Ecosystem Token (BEST). Users taking advantage of this token can take advantage of several fringe benefits within the biosphere.  These will include but not be limited to, discounted charges when trading, the first option on entry to the Bitpanda Launchpad, and importantly, the opportunity to institute IEO (initial exchange offerings) with a third force.

The role of BEST

The purpose of the Bitpanda Ecosystem Token will be pivotal as Bitpanda looks to grow its business internationally and in achieving their goal of giving their clients control of their finances and investments.

BEST will be integrated into the Bitpanda platform, the Bitpanda Global Exchange, and the proposed Bitpanda Launchpad.

In April of 2019, Bitpanda was issued with a Payment Services Directive 2 license issued by the Austrian Financial Market Authority. This license, prescribed by the European Union (EU), controls all payment service companies through the EU and also the European Economic Area.

Bitpanda’s Goal

One of the Managing Directors of Bitpanda Payments, a subsidiary opened last year, said that having obtained this license is of great benefit to Bitpanda as they look to a future of new and innovative products.  In a bid to lessen the divide between contemporary and long-established financial institutions, the payment service provider license will enable Bitpanda to remove the obstacles that have hindered growth in the past years.

About Ali Raza

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A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

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