Vienna-based cryptocurrency exchange Bitpanda has made its first acquisition in the form of UK-based Trustology, a provider of cryptocurrency wallet and custody services, for an undisclosed amount.
Bitpanda will change the name of the newly acquired fintech company to Bitpanda Custody in a bid to start its native crypto custody services focused on institutional investors. The firm plans to start its recently announced crypto custody services by taking custody of all its assets in its retail and institutional businesses. The firm claimed that it would become the largest cryptocurrency custodian by doing so.
- Bitpanda Hires Former JP Morgan (NYSE:) Executive to Run Its Fully Regulated Crypto Exchange
The crypto platform’s first acquisition comes after a series of fundraising rounds throughout 2021. The crypto exchange platform raised a total of $450 million in multiple funding rounds, giving it a valuation. of $4.1 billion, and now the platform is looking to expand its services and build a crypto brokerage ecosystem like many other leading cryptocurrency platforms.
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