Austrian cryptocurrency exchange Bitpanda is expanding its presence in the Middle East by opening a regional office in the United Arab Emirates (UAE). To lead its operations in the region, Bitpanda has hired former 1inch Network executive Walid Benothman, who has experience in business development and growth. The company plans to open its first office in Dubai at the DMCC Crypto Centre and has assembled an experienced team, headed by Benothman, to cater to the local market. Bitpanda is currently in the process of obtaining its Financial Services Permission (FSP) and will collaborate with regulators to ensure compliance. The expansion into the UAE marks Bitpanda’s first foray outside of Europe, driven by the region’s tech-friendly banking industry and crypto-friendly regulatory environment. Bitpanda also plans to introduce its trading infrastructure business, Bitpanda Technology Solutions (BTS), in three months, pending the acquisition of a local license. The company has recently partnered with Raiffeisenlandesbank Niederösterreich-Wien and Landesbank Baden-Württemberg to offer digital asset trading and custody services. Founded in 2014, Bitpanda achieved unicorn status in 2021.
