Bitpanda Launches Expansion Drive to Add More Cryptos as Demand Increases

Bitpanda Launches Expansion Drive to Add More Cryptos as Demand Increases
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Bitpanda Launches Expansion Drive to Add More Cryptos as Demand Increases

Bitpanda, a cryptocurrency exchange based in Vienna, said it plans to add new tokens on a weekly basis in response to growing user demand.

  • In addition to regularly choosing coins to be added, the trading platform will allow project creators to apply for their tokens to be listed, Bitpanda said in a statement Thursday.
  • “Crypto investors know that being early is critical to success, that’s why we decided to list new batches of cryptocurrencies on a weekly basis, such that our community is able to access cutting-edge crypto assets with a tap, straight from their Bitpanda account,” CEO Eric Demuth said in the press release.
  • Bitpanda currently offers its more than 3 million users access to 1,000 digital assets. Since it was founded in 2014, the exchange has expanded beyond crypto to offer trading in stocks, precious metals and exchange-traded funds (ETF) through a mobile app.
  • Before new cryptocurrency and token projects are listed, they will be vetted and go through a due diligence process handled by Bitpanda’s asset listing committee.
  • The requirements for new cryptocurrency projects include reviewing the market cap and stability.
  • Bitpanda became Austria’s first unicorn startup after closing a series B funding round at $170 million in March last year.
  • In December, it launched its first exchange-traded cryptocurrency note (ETC) which tracks the price of bitcoin and is traded in euros. The Bitpanda Bitcoin ETC is physically backed by bitcoin kept in cold storage with a regulated custodian.

Read more: Crypto Exchange Bitpanda Lists Bitcoin Exchange-Traded Note on Deutsche Boerse

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