Bitvavo has secured a milestone in its European
expansion strategy. The Austrian Financial Market Authority has granted the
Dutch cryptocurrency exchange authorization to operate as a virtual asset
service provider, allowing it to extend its offerings into Austria.
Building on its success in the Benelux region and an
earlier approval in Italy, Bitvavo’s entry into Austria is part of its commitment
to navigate the regulations of the European crypto market. Currently, the
crypto platform has a pending application with the German Financial Supervisory
Authority (BaFin).
According to a report by Fintelegraph, Bitvavo aims
to become the go-to regulated crypto exchange in Europe, focusing on the DACH
region. The company is leveraging on its expansion in the Benelux region,
fueled by features like a user-friendly platform and a diverse range of over 200
cryptocurrencies , to position itself in the Austrian market.
We received regulatory approval as a Virtual Asset Service Provider from the Austrian Financial Market Authority π¦πΉ
This represents another step in our European expansion, allowing us to offer a wide range of crypto products and services to the Austrian community.@FMA_AT pic.twitter.com/Awzizb9SqM
β Bitvavo (@bitvavocom) November 13, 2023
Meanwhile, the Rotterdam court declared supervisory costs imposed on Dutch crypto firms, including Bitvavo and Commerce, in August
as unlawful. This…