Crypto exchange Bitpanda said it secured a Markets in Crypto Assets (MiCA) license from the German Federal Financial Supervisory Authority (BaFin) and rivals OKX and Crypto.com said they received accreditation from Malta as the European Union's licensing regime opens the doors to the 30 nations that compose the European Economic Area (EEA).

The MiCA regulations kicked in at the end of last year and allow license holders to operate across the EEA without needing to secure approval from every country. The area includes the 27 EU nations with Iceland, Liechtenstein and Norway.

Austria-based Bitpanda had 6 million users in December and will use the license to accelerate its growth, it said.

"This milestone enables us to bring easy and safe investing to over 450 million people, unlocking unparalleled growth potential in a market we're ready to fully conquer," Eric Demuth, CEO and co-founder of Bitpanda, said in a statement.

The companies join Boerse Stuttgart Digital, which was awarded the first license by the German regulator. MoonPay, BitStaete, ZBD and prime brokerage and clearing company Hidden Road, have also received MiCA licenses.

The approval means "we can streamline operations to ensure both compliance and seamless cross- border activity," Crypto.com COO Eric Anziani said in an emailed statement.

UPDATE (Jan. 27, 10:33 UTC): Adds description below headline.

UPDATE (Jan. 27, 12:53 UTC): Rewrites headline, second bullet and first paragraph to add OKX.

UPDATE (Jan. 27, 13:19 UTC): Adds Crypto.com, European Economic Area.

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