Bitpanda Launches Expansion Drive to Add More Cryptos as Demand Increases
In addition to regularly adding new coins, the trading platform will allow project creators to apply for their tokens to be listed.
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