INTELLIGENT MOBILE TECHNOLOGY
Crypto broker Bitpanda reaches 5 million global retail investors with user base growing 25 % YoY
B itpanda . com , the crypto broker platform of European fintech unicorn Bitpanda , is now trusted by over five million retail users after a significant period of growth . After achieving a record-setting revenue of over AED 400 million in Q1 2024 , Bitpanda added nearly 500,000 new users in Q2 as European investors have increasingly begun looking to take advantage of safe and secure digital assets trading .
Throughout 2022 and 2023 , Bitpanda has invested in new products and services as part of a strategy designed to prepare for the next bull run . The fintech unicorn accordingly acquired several new licences with major regulators including BaFin and Bitpanda Technology Solutions , a relaunch of its B2B-focused white-label solution .
Additionally , the company also formed several industry-partnerships with wellknown institutions like Deutsche Bank , N26 , LBBW , and Raiffeisen . With several positive developments in the digital assets space , Bitpanda has seen a significant rise in investment interest from not only Europe but also the Middle East .
The UAE , with its digital assets projected to grow by 8.01 % to reach a market volume of $ 616.80 million by 2028 , has been a key catalyst in Bitpanda ’ s recent decision to expand . With DMCC licensing , the company launched Bitpanda MENA in early May at the most recent edition of the Dubai Fintech Summit to cater to the growing demand for digital assets that it is observing from the country and the wider region .
Overseeing the company ’ s operations in the UAE and the wider region is Walid BenOthman , Managing Director of Bitpanda . Despite the global market ’ s fluctuating nature , revenue in the UAE ’ s crypto sector is expected to grow by 7.89 % annually to reach $ 395.8 million by 2028 , up from $ 292.1 million this year .
Walid BenOthman , Managing Director , Bitpanda
With a 10 % rate in the Middle East , crypto adoption is low but recent data indicates this trend will not persist . According to Bitget Research , the average daily number of crypto traders in the region exceeded 500,000 in February , reflecting a 51 % YoY , Year-over-Year growth from 2023 . During this period , the UAE has elevated regional growth by crypto adoption per capita with a 68 % YoY rise in daily traders .
From the Dubai Blockchain Strategy to the Emirates Blockchain Strategy and most recently , the DMCC Crypto Centre , the nation ’ s pioneering efforts to embrace cryptocurrency is evident . According to Bitpanda , this is directly correlated to rising institutional adoption , as banks and financial services are actively pursuing ways to provide virtual asset services to their clients while also aligning with key priorities of the UAE .
After achieving a record-setting revenue of AED 400 million in Q1 of 2024 , Bitpanda has since reached a new milestone of 5,000,000 million total users as of Q2 while also securing DMCC licensing of its own .
Walid explained : “ Since its inception over 50 years ago , the UAE ’ s aim to diversify away from oil has been clearly outlined , and for decades , this governmental-led effort has been reinforced by various mandates , across several industries , to ensure Sheikh Mohammed ’ s vision of future-proofing the nation is realised .” •
54 54 www . intelligenttechchannels . com