, the crypto broker platform of European fintech unicorn Bitpanda, which recently announced its expansion into the UAE with a new office, now has 5 million retail users. This comes amidst projections that UAE’s digital assets market is projected to grow by 8.01% and reach a market volume of $616.80 million by 2028.

BitPanda Growth

After achieving a record-setting revenue of over $108 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.

BitPanda acquired several new licenses 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-leading partnerships with well-known institutions like Deutsche Bank, N26, LBBW, and Raiffeisen.

Interest from MENA

Bitpanda has seen a significant rise in investment interest from not only Europe but also the Middle East. The UAE, with its digital assets marketed projected to grow by 8.01% and 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. Although this offering is not available to retail investors at the moment, Bitpanda already boasts the title of Europe’s leading crypto company and this expansion is further strengthening its global position as well.

Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda stated, “We have the right products, a proven history of working with regulators, immense trust from our users and partners – including Deutsche Bank, LBBW and FC Bayern Munich – and we remain absolutely focused on growth. It took us five years to reach our first million users; we were able to achieve this same feat in the past 12 months alone, with more than 500,000 users joining us in just the last three months. We know we’re on the right track, and as we approach our 10th anniversary later this year, I know we’re going to have a lot to celebrate.”

Walid BenOthman, Managing Director, concluded: “While we are proud of our progress in Europe and the overall success we’ve achieved over the past decade, this growth has not been rooted in complacency. That is why we are now targeting the Middle East, to further strengthen our global standing as an unparalleled fintech. With a 25% surge in users over the past 12 months, we are confident in the strength of the MENA region and aspire to achieve similar success over the next year. We look forward to what the future holds.”