Bitpanda has been granted regulatory approval by the Financial Conduct Authority (FCA) to expand its operations in the UK.

The move will give British investors access to the platform’s full selection of 500 cryptocurrencies, which the Vienna-headquartered firm claims is the most extensive offering on the market.

To support its expansion, Bitpanda said it plans to open a permanent office in the UK and grow its team to develop products tailored to the market.

Bitpanda said the approval from the FCA approval follows a decade of proactive regulatory efforts.

In Europe, Bitpanda holds several licences including a PSD2 E-money licence, and registrations as a VASP across multiple markets.

Last month, Bitpanda secured a Markets in Crypto Assets Regulation (MiCAR) licence from the German regulator BaFin.

The move will enable the firm to expand its services, including both retail and institutional services, to all 27 EU member states under a unified regulatory framework.

“The UK is one of the world’s most significant financial hubs, home to some of the most innovative companies and a thriving cryptoasset economy - the UK is the perfect market for Bitpanda, and we are the perfect company for the UK,” said Lukas Enzersdorfer-Konrad, deputy chief executive at Bitpanda. “British investors demand a platform that is safe, secure, and most convenient - Bitpanda is exactly that.

“Our entry into the UK marks just the beginning of what we plan to bring to this market.”

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