Crypto unicorn Bitpanda snaps up FCA-registered custodian in first acquisition

Vienna-based Bitpanda has acquired Trustology in a deal worth tens of millions of dollars.Bitpanda, the Austrian investment platform, has acquired British crypto and DeFi custodian Trustology to boost its offering for professional investors.

While the company did not disclose an exact valuation, a spokesperson confirmed that it had spent a “significant two-digit million” sum in US dollars on the deal. Eric Demuth, co-founder and CEO of Bitpanda, said in a statement the launch of a custody service will bring the firm “one step closer to building a leading, fully regulated and secure digital investment platform for everyone, new investors and professionals alike.”as a crypto-assets firm with the UK's Financial Conduct Authority since October 2021 — one of only a few dozen crypto startups to have satisfied the regulator’s anti-money laundering requirements.

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