Austrian cryptocurrency exchange, Bitpanda, is expanding its operations to the United Arab Emirates (UAE) and opening a regional office in Dubai. To lead its operations in the region, Bitpanda has hired Walid Benothman, former business development and head of growth at 1inch Network. The company plans to open its first office in Dubai at the DMCC Crypto Centre and has assembled an experienced team, led by Benothman, to tailor its services to the local market. Bitpanda is currently in the process of obtaining its Financial Services Permission (FSP) and will work closely with regulators to ensure compliance. The UAE was chosen as the company’s first expansion outside of Europe due to its investor demand and innovative regulatory environment. Bitpanda also plans to make its trading infrastructure business, Bitpanda Technology Solutions (BTS), available in the region once it obtains its local license. Earlier this year, Bitpanda partnered with Raiffeisenlandesbank Niederösterreich-Wien to allow clients to trade digital assets via their banking apps. Additionally, the company entered a crypto partnership with Landesbank Baden-Württemberg to offer crypto-asset custody services to corporate clients. Bitpanda was founded in 2014 and achieved unicorn status in 2021.
