Crypto-trading business Bitpanda has announced its first ever acquisition.

The European unicorn, founded in 2014, is buying London-headquartered Trustology, a cryptoassets service provider.

The company is rebranding as Bitpanda Custody to reflect its focus on delivering a crypto custody platform.

Bitpanda Custody will initially take custody of Bitpanda’s own assets across its retail, institutional and whitelabelling businesses which will make Bitpanda Custody. The business said that this would make it one of the “largest digital assets custody providers” in the world.

“The Trustology team built an exceptional custody technology and we are very excited to welcome them into the Bitpanda den,” said Eric Demuth, co-founder and chief executive, Bitpanda. “Everything we do is driven by the belief that blockchain technology and digital assets will profoundly transform the financial ecosystem.

“With the clear outcome that people around the globe will have the power to own their financial futures. Bitpanda Custody brings us one step closer to building a leading, fully regulated and secure digital investment platform for everyone, new investors and professionals alike."

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