Bitstamp Gains Registration in Spain amidst European Expansion

<p class=”MsoNormal”>Bitstamp,
a Luxembourg-based cryptocurrency exchange, has gained a virtual asset service
provider registration in Spain almost four months after it received a similar
approval in Italy.</p><blockquote class=”twitter-tweet”><p dir=”ltr” lang=”en”>Hola Spain! 🇪🇸We’re thrilled to provide all Spanish customers with a safe, secure, and regulated exchange to trade <a href=”https://twitter.com/hashtag/crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto</a>.<a href=”https://twitter.com/hashtag/Bitstamp?src=hash&ref_src=twsrc%5Etfw”>#Bitstamp</a> <a href=”https://twitter.com/hashtag/cryptotrading?src=hash&ref_src=twsrc%5Etfw”>#cryptotrading</a> <a href=”https://twitter.com/hashtag/regulation?src=hash&ref_src=twsrc%5Etfw”>#regulation</a> <a href=”https://t.co/e81Pt8N4Xa”>pic.twitter.com/e81Pt8N4Xa</a></p>— Bitstamp (@Bitstamp) <a href=”https://twitter.com/Bitstamp/status/1593296633386647553?ref_src=twsrc%5Etfw”>November 17, 2022</a></blockquote><p class=”MsoNormal”>With
the Spanish approval, the exchange can now offer crypto-to-fiat and electronic
wallet custody services to its users in Spain, CoinDesk reports on Thursday.
Bitsamp already operates in Luxembourg and the Netherlands. </p><p class=”MsoNormal”>The
new development at Bitstamp comes six months after the European crypto exchange
<a href=”https://www.financemagnates.com/executives/moves/bitstamp-names-jb-graftieaux-global-ceo-as-julian-sawyer-departs/”>promoted Jean-Baptiste Graftieaux</a>, its ex-Compliance
Officer and CEO of Europe, to the position of Global CEO, crediting him for
accelerating its <a href=”https://www.financemagnates.com/cryptocurrency/news/bitstamp-revenue-jumps-in-2020-profits-gain-257/”>European growth</a> and securing
several institutional partners. </p><p class=”MsoNormal”>Crypto
in Spain</p><p class=”MsoNormal”>Bitstamp’s
new gain comes as cryptocurrency exchanges and other financial institutions are
moving into the Southern European country. Last month, the crypto banking startup, BVNK <a href=”https://www.financemagnates.com/fintech/crypto-banking-startup-bvnk-receives-vasp-registration-in-spain/”>also gained VASP registration</a> in Spain five months
after it raised $40 million from a Series A funding round. BVNK described the
registration as a springboard for its expansion across the European Union.</p><p class=”MsoNormal”>In
July, Binance, the world’s largest cryptocurrency exchange, <a href=”https://www.financemagnates.com/cryptocurrency/news/binance-obtains-vasp-registration-in-spain/”>obtained its VASP registration</a> from the Bank of Spain.
Moon Tech Spain, the Spanish subsidiary of Binance, applied for registration on
28 January 2022. </p><p class=”MsoNormal”>Earlier
in June, <a href=”https://www.financemagnates.com/tag/bitpanda/”>Bitpanda</a>, a unicorn
cryptocurrency startup based in Austria, <a href=”https://www.financemagnates.com/cryptocurrency/regulation/bitpanda-gains-crypto-license-in-spain/” target=”_blank”>got registered</a> to provide virtual
currency exchange and digital asset custody services in Spain. The approval was
an addition to the startup’s European license lineup: the firm is registered in France, Italy, Sweden
and Austria. </p><p class=”MsoNormal”>According
to TripleA, a crypto payment gateway provider, 1.1 million Spaniards, or
2.51% of Spain’s total population own cryptocurrency. However, a much recent
study by the National Securities Market Commission, the Spanish government
agency responsible for the financial regulation of the securities markets in
Spain, found that 6.8% of Spaniards have invested in crypto at some point. The
agency noted that this investment is driven primarily by profit.</p>

This article was written by Solomon Oladipupo at www.financemagnates.com.