BitPanda, a leading cryptocurrency exchange, has obtained a Virtual Asset Service Provider (VASP) license in Norway, setting a precedent as the first foreign entity to do so.

Earning this VASP license also made BitPanda the first foreign crypto exchange firm to get it in Norway. Moreover, this is expected to boost the brand’s presence further here.

Crucial Advancement in the Norwegian Market

Bitpanda recently announced its advancement to Norway, which is remarkable. It is now the first non-local company to get the VASP license, and this can serve as something that will help the company strengthen its place in the European industry.

With the approval from the Norwegian authorities, Bitpanda can now introduce its safe and secure services for digital assets trading to its customers. As per Binance Square, the crypto community in the territory showed a highly positive response to this development. Many of them were said to have considered this great news, and others even said they are now ready to register and do business using BitPanda’s crypto platform.

New Milestone in Europe Region

In any case, the company’s deputy chief executive officer, Lukas Enzersdorfer-Konrad, said that their registration in Norway truly marks another important milestone­ in their quest for European expansion. CoinTelegraph reported that BitPanda also holds a virtual asset service provider license in Austria, Germany, France, Czechia, and Sweden.

“It is obvious that we in Europe need an investment platform that we can trust. At Bitpanda, we have set out to be that platform,” Lukas said. “Over the last 12 months, we have been the only European provider to receive licenses in Germany, Sweden, and Norway and we now have more than 4 million users and enable Europe’s leading financial institutions and neobanks to offer digital assets.”

Meanwhile, having a VASP license in Norway shows BitPanda’s commitment to operate as a regulated broker in any country. Being a license holder also reflects the crypto exchange’s sincerity in wanting to offer only secure and safe trading services to its users.

Photo by: BitPanda Press Material