The Cryptonomist interviewed Massimo Di Rosa, Country Manager of Bitpanda for Italy to discuss the exchange’s plans to address the Mica regulation and more.
How would you describe the current moment of the crypto market? Are we in a phase of solid recovery, or do we still see signs of uncertainty?
We need to take a step back and look at what has happened in the cryptocurrency markets since last year. We have already gone through a huge period of growth, and there are several positive factors that will define what will happen next.
Just last year we witnessed the introduction of cryptocurrency ETFs, adoption by major institutions, and greater regulatory clarity in the United States thanks to the new administration and in the EU thanks to MiCAR.
So, regarding cryptocurrencies, I believe we are clearly in a bull moment. However, we must take into account the fact that the global economy is facing a period of uncertainty, and this impacts all asset classes.
This period of market uncertainty has highlighted the resilience of cryptocurrencies and the impact that institutional money has had on reducing overall volatility. Once the situation has stabilized, we will be able to have a clearer idea of the long-term trajectory of the criptovalute market.
How is the adoption of cryptocurrencies evolving in Italy compared to other European countries? What are the main barriers and opportunities?
Together with YouGov, we compiled a survey that found that in Italy, on average, almost one in ten people already invest in cryptocurrencies, but this number rises to 16% for Millennials and 13% for Gen Z.
These numbers highlight a significant difference in Italy between the investment habits of younger generations compared to previous ones, with only 8% of Generation X currently owning cryptocurrencies and only 4% of Baby Boomers.
The adoption of cryptocurrencies in Italy is growing rapidly, fueled by strong interest from both retail and institutional investors. However, challenges such as regulatory uncertainty, consumer protection, and education remain obstacles to full adoption. By addressing these issues through clearer regulation, institutional involvement, and education, Italy could continue to lead the way in the European cryptocurrency revolution.
Europe is advancing with the MiCA regulation. What impacts will it have on companies like Bitpanda and on the growth of the sector in Italy?
The MiCA (Markets in Crypto-Assets) regulation is certainly a fundamental step for Europe in the attempt to establish a clear regulatory framework for cryptocurrencies and related financial instruments. Europe now has a set of rules that every company must follow, and investors can clearly see who follows the rules and who does not.
Bitpanda has already obtained the MiCAR license from the German and Maltese regulatory authorities. MiCAR introduces a single regulatory regime for the cryptocurrency sector, allowing the crypto exchange to operate with a single license in 27 countries.
This reduces complexity and costs, while at the same time providing a clear path for extending our offering to more markets. Bitpanda’s proactive approach to regulation, reflected in the 17 existing licenses, including a PSD2 license for electronic money and a MiFID II license, had already positioned us as one of the most reliable platforms in the bull sector.
The MiCAR license allows Bitpanda to offer the entire range of industry-leading products, with retail and institutional services, throughout the European Union.
Are you seeing greater interest from institutional investors in Italy? And which crypto financial assets or products attract the most?
Absolutely yes, the interest of institutional investors has increased massively in the last 12 months. The approval of ETFs in the United States has been an important factor, but we are also witnessing an increase in institutions adding cryptocurrencies to their balance sheets. BTC and ETH are the precursors, thanks to their established market presence, their market cap, and their liquidity.
The other important thing we are seeing is the increase in interest from financial institutions to create their own offering of digital assets for retail investors.
We have already formed a partnership with several important institutions to provide them with the necessary infrastructure for this purpose through Bitpanda Technology Solutions (BTS). By collaborating with us, these institutions can launch their own trading solutions in just 3 months, within their own app, using our technology.
The demand in this case is a clear sign of how important digital assets are for retail investors: in simple terms, these institutions know that if they do not offer a solution, their clients will look for it elsewhere. Our solution is already appreciated by major European banks such as LBBW (the largest state bank in Germany), Raiffeisen Banking Group (the largest retail banking group in Austria), and N26 (the leading European neobank).
What is the level of financial education on crypto in Italy? Is Bitpanda doing something to improve knowledge of the sector among retail investors?
In Italy, financial literacy regarding cryptocurrencies is growing, but it remains an area where more education is needed. According to a survey by the Organismo Agenti e Mediatori (OAM), the average level of financial literacy in Italy is 4 out of 10, which indicates a still limited understanding of financial concepts, including cryptocurrencies.
To fill this gap, Bitpanda has launched several educational initiatives aimed at retail investors, such as Bitpanda Academy. It is an educational platform that offers courses on personal finance, investments, cryptocurrencies, blockchain, and security. Users can access structured courses to delve into various aspects of the financial world and cryptocurrencies.
What are the main objectives of Bitpanda for 2025, both at the European level and specifically for the Italian market?
In the next 12 months, we aim to strengthen our position as a market leader in Europe throughout the EU. With MiCAR, we are in a unique position to reach 450 million people. Additionally, we will expand into at least one new market outside the European Union, opening up new growth opportunities.
We also plan to introduce new products and accelerate the international expansion of our B2B offering through Bitpanda Technology Solutions (BTS), the leading infrastructure provider for digital assets. Interest from banks, financial institutions, and fintech is growing rapidly, and many are looking to leverage our white-label solution to offer cryptocurrency services to their clients.
For Italy, in particular, we want to develop products that meet the specific needs of Italian investors. In the last 10 years, we have learned that every market is different, and if we want to provide the best possible experience to users in Italy, we must listen to their needs and meet them.
Recently, you have expanded the offering with new financial products. Which ones are most requested by users and how do they differ compared to competitors?
Bitpanda offers its users a wide range of products designed to be used by investors employing different strategies and approaches to the market. These products include: staking, leverage, savings plans, and a series of cryptocurrency indices. Additionally, we offer the widest range of cryptocurrencies on the market, with over 500 coins, as well as Bitpanda stocks, ETFs, precious metals, and commodities.
Recently, we launched a new product aimed at more experienced investors: Bitpanda Fusion. Bitpanda Fusion supports intraday and high-volume trading strategies with a competitive fee structure, sophisticated chart analysis tools, and insights, ultimately providing expert traders with the tools necessary to execute their strategies with confidence.
Different products are appreciated by different traders. While our Savings Plans allow investors to automatically purchase their chosen assets every month and support a more passive approach, Fusion is designed to support a very active trading strategy. The difference lies in our range. We have products designed for every trader, regardless of their experience or approach, all on a secure, reliable, and regulated platform.
You have formed several partnerships with banks and fintech. How important are these alliances for the growth of Bitpanda in Europe?
“`html
Partnerships with banks and fintech are a key component of our strategy to grow our presence in Europe and to provide more people with secure access to digital assets. Thanks to these partnerships, the total number of end users who can access digital assets through Bitpanda’s infrastructure is now over 30 million, not counting the people who invest directly with Bitpanda.
“`
By working with financial institutions, we can offer people access to financial markets from within their existing banking or investment applications, giving them access to a wider range of assets and better products.
These alliances allow Bitpanda to access new markets, improve the product offering, and increase credibility, enabling our partners to provide a solution quickly and keep up with customer demand.
How do you imagine the future of Bitpanda and the crypto industry in the next 5-10 years?
Growth, integration, and adoption will define the next 10 years of the sector. We are right at the beginning of the true path of cryptocurrency integration and, as we see more institutions and governments embrace the potential of the sector, everything will change.
For Bitpanda, our path is very clear. We will continue to innovate to develop new products, expand our offering to new markets, and continue to collaborate with financial institutions that share our vision of secure access to digital assets.
