Bitpanda eyes Middle East expansion with Dubai office

abdelaziz Fathi

European cryptocurrency exchange Bitpanda is expanding its reach both within Europe and internationally.

Bitpanda has extended its partnership with Austrian bank Raiffeisen to offer cryptocurrency buying options at 55 bank branches throughout Austria. This announcement comes shortly after Bitpanda revealed plans to open a new office in Dubai, marking its first venture outside of Europe and tapping into the burgeoning Middle Eastern crypto market.

The expanded partnership with Raiffeisen originally started in Vienna and has since seen a 10% adoption rate among new investors, primarily in major cryptocurrencies such as Bitcoin and Ethereum.

Lukas Konrad, deputy CEO of Bitpanda, highlighted the positive impact of clear regulatory frameworks on cryptocurrency adoption. He pointed out that the European Union’s regulatory clarity, particularly through the Market in Crypto Assets (MiCA) regime set to be implemented this year, is significantly fostering crypto adoption.

Meanwhile, the United Arab Emirates (UAE) is quickly becoming a leading hub for digital assets, largely due to the proactive stance of its Virtual Assets Regulatory Authority (VARA). By establishing a clear regulatory environment, the UAE is attracting businesses like Bitpanda to expand their operations into the region.

Bitpanda decided in January to withdraw its services from the Netherlands after failing to receive regulatory approval. Despite having over 4 million users across Europe and holding 12 European licenses and registrations, Bitpanda is not registered with De Nederlandsche Bank (DNB), the central bank of the Netherlands.

Bitpanda’s exit comes a few months after Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, ceased providing services to customers in the Netherlands, citing regulatory requirements imposed by the country’s central bank.

Earlier in 2023, Bitpanda divided into two separate companies. The company’s cryptocurrency exchange, Bitpanda Pro, has become an independent entity known as One Trading.

By splitting into two distinct companies, Bitpanda aims to further focus on the development and growth of its cryptocurrency exchange, Bitpanda Pro. This strategic move, accompanied by decent funding, is said to upgrade the capabilities and offerings of One Trading in the cryptocurrency market.

Read this next

Industry News

SEC’s Gensler reminds industry why T+1 is needed

“For everyday investors who sell their stock on a Monday, shortening the settlement cycle will allow them to get their money on Tuesday. Shortening the settlement cycle also will help the markets because time is money and time is risk.”

Industry News

Citi fined £61 million after $189 billion algo order by mistake

The regulator noted that some primary controls at Citi were absent or deficient. In particular, there was no hard block that would have rejected this large erroneous basket of equities in its entirety and prevented any of it reaching the market.


Retik Finance Uniswap Listing Shocker: Why Presale Investors Are Abandoning $RETIK for BlockDAG’s Astounding 30,000x ROI

Explore how major influencers champion BlockDAG’s 30,000X ROI, overshadowing Retik Finance’s Uniswap listing and shifting investor focus.


Crypto Influencer ‘Crypto Jogi’ Names BlockDAG the Leading Investment for 2024, Outshining Retik Finance Exchange Listing

Explore why ‘Crypto Jogi’ has singled out BlockDAG as the investment to watch in 2024, shifting focus from Retik Finance’s upcoming exchange listings.


Over the Moon or Lost in Space? MoonBag Presale vs. Retik Finance and Pepe Coin

Discover why MoonBag presale is the best crypto presale 2024, surpassing Pepe Coin and Retik Finance with innovative features and high returns. Don’t miss out!

Digital Assets

Uniswap challenges SEC’s planned lawsuit over decentralized exchange

Decentralized finance (DeFi) exchange Uniswap is moving to address a looming regulatory spat with the U.S. Securities and Exchange Commission (SEC).

Digital Assets

Solana trader turns $2K into $2.26 million with 1DOL bet

The Solana ecosystem has proven to be a profitable environment for both savvy traders and lucky speculators. In line with this trend, memecoin trader invested 2,275worth of Solana (SOL) to buy a stash of meme coins, which then became worth $2.26 million in just eight hours.

Executive Moves, Uncategorized

Bitget appoints Gracy Chen as CEO

“I’m extremely honored to step into the role of CEO at Bitget. Over the past six years, we’ve built a robust foundation and an incredible team. Bitget has transformed into a leading crypto platform, consistently innovating to create value for our 25 million users. I’m excited to lead our global expansion to new heights.”

Digital Assets

Seven crypto exchanges pull out of license race in Hong Kong

The number of cryptocurrency exchanges seeking operational licenses in Hong Kong is steadily decreasing as the deadline approaches. Most recently, three crypto exchanges withdrew their license applications filed with the Securities and Futures Commission of Hong Kong (SFC).