European crypto powerhouse Bitpanda is setting its sights on new horizons, announcing its expansion to the Middle East with a regional office in the United Arab Emirates (UAE). This strategic move positions Bitpanda at the heart of a booming crypto hub, capitalizing on the region's thriving investor base and innovative regulatory landscape.

Leading the charge is Walid Benothman, a seasoned crypto veteran who previously spearheaded business development and growth at 1inch Network. Benothman will assemble a team specifically focused on tailoring Bitpanda's offerings to the unique needs of the UAE market.

The UAE's embrace of fintech and crypto-friendly regulations played a pivotal role in Bitpanda's decision. Currently in the final stages of securing a Financial Services Permission (FSP), Bitpanda emphasizes its commitment to regulatory compliance while delivering a best-in-class trading experience.

"The UAE offers the perfect blend of investor demand and a progressive regulatory environment," stated Eric Demuth, Bitpanda's co-founder and CEO. He further highlighted this expansion as Bitpanda's first foray beyond Europe, a testament to the UAE's burgeoning crypto scene.

But Bitpanda's ambitions in the region extend beyond its own platform. The company plans to introduce its "Bitpanda Technology Solutions" (BTS) within three months of obtaining its FSP. This innovative infrastructure empowers banks and financial institutions to seamlessly integrate crypto trading functionalities into their existing offerings.

Earlier this year, Bitpanda partnered with Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien), enabling their customers to trade digital assets directly through their banking app. Similarly, a partnership with Landesbank Baden-Württemberg in Germany will see Bitpanda provide crypto-asset custody services later in 2024.

Founded in 2014, Bitpanda's impressive growth trajectory has seen it achieve unicorn status in 2021. This expansion into the UAE marks yet another milestone for the company, solidifying its position as a global leader in the ever-evolving crypto landscape. As Bitpanda takes flight in the UAE, the region's crypto ecosystem is poised to experience a significant boost, offering exciting possibilities for both investors and the broader financial landscape.