Crypto Exchange Bitpanda has just registered its strongest financial year, more than doubling income such as partnerships and regulated offers stimulate growth.
Summary
- Bitpanda reported € 393 million, around $ 426 million, in the turnover of 2024, an increase of 162% compared to the previous year.
- The growth of the stock market is driven by regulated product range, market expansion and institutional partnerships.
According to a press release shared with crypto.news, the Crypto platform established in Vienna reported $ 426 million in operational income for 2024, against the $ 163 million that was registered the year before.
The company said that the figure marks a milestone in profitability and scalability, making 2024 the most successful year since the launch. Bitpandas figures exceed people such as market leaders such as Coinbase and Binance, who, according to Yahoo Finance, achieved 115% and 40% respectively, according to Yahoo facts.
In terms of trade volume, the exhibition total recorded an increase of 223% in the second quarter of 2024 alone, with a peak of 113% in new user registrations compared to Q2 2023.
The Golf built on Momentum that surrounds the exchange. Kaiko research noted This growing regulatory pressure in the US during 2023 had pushed more users into global alternatives, with EU-based platforms such as Bitpanda see a noticeable boost in activity since then.
Despite the increase, however, Bitpanda is still running behind large stock markets on a scale. Coinbase entered Last year $ 6.6 billion in income, with $ 3.3 billion in adapted income before interest, taxes, depreciation and amortization (EBITDA), making an efficiency margin of 50%. Bitpanda, on the other hand, ended the year with an EBITDA margin of 30%, suggesting stronger cost controls, but a smaller operational footprint.
Responding to the growth of the year, Bitpanda CEO and co-founder Eric Demuth said that the results serve as proof of his focus, adding that the momentum is the stage for further growth.
“2024 was our strongest year so far, both in terms of delivery and financial performance,” the CEO said in the statement, adding that the stock market is now growing even further in 2025.
Partnerships and permits stimulate Bitpanda -Growth
Bitpanda said that sales growth was fed by a combination of regulated product range, market expansion and a wave of institutional partnerships. These include ties with traditional financial institutions and deals with various bank giants, including the 2024 partnership with the German Deutsche Bank to process Fiat transfers.
New market entries have also contributed to the income leap, whereby the stock market extends its regulatory footprint by gaining licenses in various areas of law, including the VAE and the EU, as previously reported by Crypto.news.
Looking ahead, Bitpanda is now planning to expand further to the EU and the UK in the near future. With the already acquired mica license and the approval of the Financial Conduct Authority of the UK, it is intended to grow its supply in unused markets in these regions and to concentrate on regulated, long-term growth.
