Bitpanda and Paypal join forces to facilitate deposits for French customers

Starting this Thursday, French Bitpanda customers will be able to use Paypal to make deposits and withdrawals from the platform.

Payments giant Paypal is making its way into the world of cryptocurrencies. After launching its own stablecoin in the summer of 2023, Paypal has decided to join forces with Bitpanda, one of the oldest cryptocurrency exchange platforms. As of this Thursday, February 22, French Bitpanda customers will be able to use Paypal to make deposits and withdrawals from the platform.

“The integration of Paypal into the Bitpanda ecosystem as an additional free deposit option for our users in France demonstrates our commitment to user experience and our leading position in the market,” said Thomas Romain, France director of Bitpanda.

Paypal was not Bitpanda’s first partner for its deposits functionality. Users could already use Apple Pay, SEPA bank transfers or even credit and debit cards. But depending on the withdrawal or deposit method used, certain fees could be associated.

Here, the partnership between Bitpanda and Paypal promises to be “fee-free”. Users must, however, remain vigilant, particularly with regard to hidden fees, frequently used by neobrokers or crypto exchanges.

Four million users

Founded in Vienna in 2014, Bitpanda is one of the oldest European cryptocurrency exchange platforms. The crypto exchange holds PSAN (digital asset service provider) registration from the Financial Markets Authority (AMF), allowing it to operate in France. It claims more than four million users.

As a reminder, introduced by the Pacte law in 2019, PSAN registration is mandatory for a crypto player in certain areas, in particular if it wishes to provide digital asset and/or digital asset custody services in France. ™purchase or sale of digital assets in legal tender. Now, 110 players have obtained this license, including the giant Binance, Coinhouse and Coinbase.