Schoenherr, working with White & Case in Frankfurt, has advised the Austrian financial technology company Bitpanda on the expansion of its product portfolio to include exchange-traded cryptocurrencies.
"This product provides investors with easy access to crypto assets via a liquid financial instrument traded on a regulated exchange," Schoenherr informed. "Bitpanda Bitcoin, the first product launched under this program, is physically backed by Bitcoin, which is securely held at a regulated custodian bank. Bitpanda Bitcoin will initially be traded on the German stock exchange platform Xetra but is expected to be listed on other EEA exchanges in the course of the year."
Founded in 2014, Bitpanda is a digital asset trading company focusing on cryptocurrencies. It serves more than three million users. The group employs over 600 team members in its Vienna, Barcelona, Berlin, Krakow, London, Madrid, Milan, and Paris offices.
The Schoenherr team was led by Partners Ursula Rath and Christoph Moser and included Counsel Matthias Pressler and Attorney-at-Law Marco Thorbauer.
The White & Case team included Frankfurt-based Partners Karsten Woeckener, Cristina Freudenberger, Sebastian Pitz, and Bodo Bender, Local Partners Julia Sitter, Heinrich Nemeczek, Peter Becker, and Anna Dold, Counsel Alexander Born, and Associates Daniel Sander, Claire-Marie Mallad, Daniel Gillenkirch, and Patrick Schoelles, and Stockholm-based Associates Max Axelsson and Daniel Agnemyr.