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We are happy to let you know that the renowned financial auditing service, KPMG, conducted the first agreed-upon procedures for Bitpanda. From now on, such procedures will be conducted on a quarterly basis and the full reports can be requested by all our users.
At Bitpanda, we value the security of user funds as well as regulatory compliance. Since the company’s inception in December 2014, we have constantly been overdelivering on both topics. To be able to give those values more legitimacy, we started to work with KPMG, one of the top four accounting firms in the world.
Bitpanda commissioned its auditor, KPMG, to perform agreed-upon procedures as of the 30th of November, 2020 regarding the BTC, ETH and XRP funds of Bitpanda Users, to verify whether these funds are covered by the corresponding crypto-funds stored on Bitpanda’s cold wallets.
In the scope of an in-depth agreed-upon procedures, KPMG analysed our crypto cold wallets for BTC (Bitcoin), ETH (Ethereum) and XRP (XRP). These assets were chosen because they are the most popular on Bitpanda and more assets will follow in the future. Such procedures assure Bitpanda users of the availability of the user funds shown in each customer wallet as of the 30th of November, 2020. The results of the procedures performed by KPMG can be requested and downloaded on our website.
How to request the KPMG agreed-upon procedures report as a Bitpanda user
We want to guarantee full transparency for our users. The process to request the full report is simple: You can request the full report by clicking here. We will then provide you with the latest available quarterly agreed-upon procedures document.
- Agreed-upon procedures performed by KPMG were performed by International Standards (ISRS 4400). Agreed-upon procedures do not constitute an audit.
- Agreed-upon procedures were performed on a defined date and therefore the described conclusion of KPMG is only valid for this date.
- Cyber crime or other errors due to fraud which could happen in any organization were not part of the agreed-upon procedure by KPMG.