Bitpanda has partnered with Coinmotion , a cryptocurrency broker based in Finland, to provide users in the Nordic region with access to over 400 digital assets. The partnership is designed to expand the range of digital assets available to Coinmotion users through their existing application.

The collaboration is expected to enhance the user experience and potentially boost revenue for Coinmotion. This collaboration enables Coinmotion to expand its cryptocurrency offerings in the Nordic market, with both companies prioritizing innovation and user safety. Bitpanda's technology platform has facilitated this expansion by supporting trading and custody services, making it easier for Coinmotion to broaden its asset selection.

The Nordic region has experienced a rise in cryptocurrency ownership and engagement. A study conducted in April 2024 by K33 Research and EY indicates that approximately 1.5 million people in the Nordics, or about 7% of the adult population, currently own cryptocurrency. This trend is particularly prevalent among younger individuals, with more than 70% of crypto owners being under the age of 40.

The survey also suggests that the number of crypto owners in the Nordics could increase to 4.6 million within the next decade. Partnering Fenergo In June 2024 Ireland-based SaaS financial technology solutions provider Fenergo formed a collaboration with Finland-based cryptocurrency service provider Coinmotion. As part of this collaboration, Coinmotion will utilize Fenergo’s Transaction Monitoring system to enhance its real-time understanding of customer behavior and improve its ability to report suspicious transactions to the Financial Intelligence Unit (FIU).

By adopting Fenergo’s solution, Coinmotion aims to strengthen its anti-money laundering (AML) compliance processes by using KYC and transactional data to quickly identify suspicious activities. This integration is expected to minimize the inefficiencies associated with false positives while enabling Coinmotion to remain alert to unexpected developments. Additionally, the implementation of a risk-based approach, in line with evolving AML regulations, will support Coinmotion’s operational expansion and transition from an in-house system to an automated solution provided by Fenergo.

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