Bitpanda’s Institutional Crypto Platform: Powered by Cold Storage

Bitpanda, an Austrian fintech unicorn, has responded to the rising demand for institutional cryptocurrency services in Europe by launching an institutional-grade cryptocurrency trading platform. The platform, called Bitpanda Wealth, is aimed at high-net-worth individuals, family offices, external asset managers, and corporate treasuries. It was built using the same infrastructure trusted by several major European banks.

Bitpanda Wealth offers a range of services designed to facilitate crypto investment, management, and reporting. These services include leverage products, exchange-traded funds, commodities, and other assets. Bitpanda CEO Eric Demuth stated that the platform is targeting a sector in Europe that appears to be underserved. He explained that there is significant interest in this area but a lack of adequate solutions, leading Bitpanda to engage with private banks and affluent clients who expressed the need for a distinct service.

The institutional platform utilizes Bitpanda’s proprietary custody solution, known as Bitpanda Custody, to ensure the safety of its clients’ assets. Bitpanda Custody employs cold storage, which keeps clients’ assets offline and significantly reduces the risk of security breaches and hacks. The platform is registered with the United Kingdom’s Financial Conduct Authority and offers segregated wallets for institutional investors, service providers, token issuers, and corporate treasuries.

Bitpanda has previously launched another institutions-focused platform called Bitpanda Pro, which provides brokerage services and an over-the-counter trading desk. In 2021, Bitpanda Pro underwent a rebranding and is now known as One Trading after securing a 30 million euro Series A round. Demuth clarified that One Trading was completely separated from Bitpanda last year following the successful Series A.

As a major cryptocurrency firm in Europe, Bitpanda has actively engaged with local regulators to obtain the necessary licenses to provide its services. It has obtained a virtual asset service provider license in Norway and holds licenses in other European jurisdictions including Austria, Germany, France, Czechia, and Sweden. Bitpanda has also assisted Raiffeisen Bank in launching crypto trading services.

By launching Bitpanda Wealth, Bitpanda aims to meet the demands of institutional investors in Europe. With its focus on security and its established reputation as a cryptocurrency broker, Bitpanda is positioning itself as a trusted provider of institutional-grade cryptocurrency services.