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IG Europe Moves to Expand EU Crypto Offering with MiCA Licensed Bitpanda

Finance Magnates

Cryptocoins News / Finance Magnates 63 Views

IG Group is preparing to expand its cryptocurrency offering across Europe through a partnership with Bitpanda. The expansion follows IG’s launch of spot crypto trading in the United Kingdom earlier this year through a partnership with Uphold.

Last year, IG received a cryptoasset licence from the UK Financial Conduct Authority, allowing the company to expand its digital asset services. The licence also permits future features, including crypto transfers, a broader range of digital assets and additional pricing functionality.

Bitpanda also expanded its regulatory footprint last year after obtaining a MiCA licence from Germany’s Federal Financial Supervisory Authority, BaFin. The authorisation allows the company to provide services across European Union member states under the bloc’s unified crypto regulatory framework.

IG Europe Expands Crypto via Bitpanda

Under the agreement, Bitpanda will provide the infrastructure supporting the service, including liquidity, trading connectivity and market data. This setup allows IG Europe to introduce crypto trading services without building its own backend systems.

MiCA introduces common requirements for cryptoasset service providers in areas including transparency, investor protection, governance and operational standards. The framework also raises compliance requirements around capital reserves, risk management and custody arrangements.

The company has not announced a timeline for the wider European rollout.

IG Targets Wider Asset Access Europe

“This partnership broadens our product offering across Europe,” said Esteve Jane, Managing Director of IG Europe. He added that the initiative would give “experienced investors access to a wider range of asset classes” while maintaining the “quality and security they demand.”

IG Europe operates under the supervision of BaFin. Its parent company, IG Group, is listed on the London Stock Exchange’s FTSE 100 index and says it serves around 1.3 million clients globally.

This article was written by Tareq Sikder at www.financemagnates.com.
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