Poland’s Largest Crypto Exchange Revamps to Go License Shopping

Zonda (formerly BitBay) plans to push into Switzerland early next year, with U.K. and Canada next on the roadmap.

AccessTimeIconNov 8, 2021 at 9:32 a.m. UTC
Updated May 11, 2023 at 7:06 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

BitBay, the largest cryptocurrency exchange in Poland, has renamed itself Zonda and hired a new chief executive as it kicks off an expansion beyond Europe.

Zonda, which has more than a million users and holds a crypto license to operate across the European Union, is on track to snag a license in Switzerland next, to be followed by the U.K. and Canada, according to newly appointed CEO Przemysław Kral.

  • Aptos' APT Token Down 52% in April After Booming March: VanEck
    Aptos' APT Token Down 52% in April After Booming March: VanEck
  • Key Events You Shouldn't Miss at Consensus 2024
    Key Events You Shouldn't Miss at Consensus 2024
  • What to Expect From Consensus 2024
    What to Expect From Consensus 2024
  • Will Solana and Altcoins Dominate the Market Next?
    Will Solana and Altcoins Dominate the Market Next?
  • “We are very well known in central and eastern Europe as we have a crypto/fiat license in Estonia and we are also the first exchange to have an audited financial statement there,” said Kral, who served as BitBay’s chief legal officer before becoming CEO. “Now we want to be fully regulated and have licenses everywhere.”

    Many crypto companies are stuck at some stage of registration with regulatory authorities, given the steady creep of global anti-money laundering (AML) rules. Zonda’s move into Switzerland goes some way beyond just a license application, Kral said.

    “We have a company structure in Switzerland and we are hiring there,” said Kral. “We also have a partnership with FINMA-licensed SEBA Bank. We expect to have our Swiss license in the first quarter of 2022.”


    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Ian Allison

    Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.