Bitpanda Invests €10M in New Hub in Poland
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Cryptocurrency exchange Bitpanda is about to expand its services in Krakow, Poland, with a €10 million tech hub, a local news outlet reports.

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For the new hub, Bitpanda reportedly plans to hire 300 IT engineers and programmers over the next year. Bitpanda CEO and Co-Founder, Eric Demuth, says the exchange chose Poland as the country has qualified employees, universities, and the possibility of creating a technological ecosystem.

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While the initial investment in Bitpanda's Polish arm is €10 million (over $12.2 million), the exchange's management claims this is just the beginning.

Earlier this year, Bitpanda announced the closure of Europe’s largest Series A funding round of 2020. The exchange has raised over $50 million from Peter Thiel’s Valar Ventures and other fintech investors such as Speedinvest. With the attracted capital, Bitpanda said it plans to keep on growing in more European countries during 2020, and in 2021.

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