‘UK expansion was never an if, but a when’: Bitpanda sets sights on becoming Britain’s leading crypto platform

Bitpanda co-CEO Lukas Enzersdorfer-Konrad said the company's recent expansion into the UK marks a major step in its European growth strategy, describing the move as inevitable rather than optional.

"Expanding to the UK was never an 'if' for us — just a 'when,'" Enzersdorfer-Konrad explained in a written interview with The Block, calling the country one of the world's most important financial markets — home to leading financial institutions and some of the most innovative and exciting startups. "It was just a question of timing, and we believe the UK now has a unique opportunity to build a competitive regulatory regime for crypto," he said.

Founded in Vienna, Bitpanda serves around seven million users across Europe, with its strongest markets in Austria, Germany, Switzerland, Italy, and France, according to Enzersdorfer-Konrad.

The key to those successes was local partnerships, localization, and regulatory alignment, he said, adding that since securing three MiCA licences, Bitpanda has been able to take a broader view on expansion, and is currently seeing healthy growth across the EU as more retail and institutional investors look for secure access to digital assets.

Competing on simplicity and scale

Bitpanda's UK rollout in August provided users with access to more than 600 crypto assets at launch — "the broadest range in the market on day one," Enzersdorfer-Konrad claimed, adding that the company's model as a broker, rather than an exchange, allows it to focus on ease of use and transparency. "People get direct access to a wide range of assets without complexity or opacity. Our focus is on experience and trust," he said.

Enzersdorfer-Konrad also confirmed Bitpanda is exploring bringing its tokenized stock offering — already live in Europe — to the UK. "We already know we can provide users with the same simple, accessible way to invest in a wide range of asset classes, but we want to make sure that — just like with our crypto offering — when we launch a new product in the UK, it really is market-leading from day one," he said.

The company ultimately aims to become "the UK's leading crypto platform and be the best and most complete way to invest in crypto assets," targeting the market to rank among its largest within two years.

Navigating a changing regulatory landscape

Enzersdorfer-Konrad said Bitpanda's established reliability in Europe provides a strong foundation for attracting UK investors seeking regulated, user-friendly access to digital assets. "We've been operating for 11 years and, in that time, have worked with regulators in dozens of countries. Each one is different and requires customization and operational adjustments."

The UK has so far adopted a phased approach to crypto regulation, aiming to position itself as a global hub for digital assets innovation while prioritizing consumer protection and financial stability.

For the past five years, UK-based crypto firms have been required to register with the FCA to comply with anti-money laundering, counter-terrorism, and know-your-customer rules. However, the regulator's current remit is limited to financial promotions and preventing financial crime.

Last year, the UK government unveiled plans that are currently under consultation for a full crypto regulatory framework, with comprehensive regulations covering stablecoins, trading platforms, lending, staking, and custody. These rules are expected to be implemented sometime in 2026.

Enzersdorfer-Konrad described the UK's regulatory dialogue as "much more constructive and collaborative over the past year," noting that "there's now clear political and institutional recognition that digital assets will be part of the financial future."

However, he warned that time is of the essence, reiterating the view — and frustration — of many crypto industry representatives at the Zebu Live web3 conference in London earlier this week regarding the pace of regulatory change from the government and the Financial Conduct Authority.

"Now is the time for the UK to make clear its ambitions and direction on crypt oassets — particularly around stablecoins," Enzersdorfer-Konrad said. "Taking time to consult with industry stakeholders was the right move, but time is now a critical factor. The U.S. is moving quickly, the EU has MiCA, and other markets are introducing their own frameworks."

"Bitpanda is working closely with the government and regulators to support them as they develop the UK's regulatory regime. Digital assets are a global industry. So, if the UK wants to play a major part in its future, this is the moment to establish a clear framework that strikes the right balance between protection and innovation," he added.

Positive steps forward

The Bitpanda co-CEO welcomed the FCA's recent decision to lift the retail ban on crypto exchange-traded notes (cETNs) as an example of "a positive step toward getting that balance right," adding that proportionality remains key to developing a healthy regulatory framework.

Addressing specific new UK tax reporting rules that will require centralized crypto exchanges to disclose customer data and transaction activity from January 2026, Enzersdorfer-Konrad said Bitpanda is well prepared. "We already operate under similar frameworks in a few European markets, so it's not a new challenge for us," he said. 

Nevertheless, some in the crypto community remain concerned over the privacy implications, potentially further incentivizing the use of decentralized trading platforms instead. However, Enzersdorfer-Konrad said that had not been Bitpanda's experience after similar tax reporting requirements were introduced in other jurisdictions and it had not impacted its user base in those countries. "Responsible investors prefer compliant, secure environments and we can provide that," he said.

Looking further ahead, while Bitpanda's retail strategy remains focused on Europe and the UK, its B2B division — Bitpanda Technology Solutions, which Enzersdorfer-Konrad also heads up — continues to expand globally. The white-label platform recently launched partnerships with RAKBANK in the UAE and another financial institution in Latin America, with further discussions underway across the Asia-Pacific region.

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