Share this article
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.
By Ian Allison
Updated May 11, 2023, 7:06 p.m. Published Nov 8, 2021, 9:32 a.m.
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.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“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.”
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Tensions over El Salvador's bitcoin holdings ease as IMF praises economic progress
The Central American country’s economy is projected to grow 4% this year, the IMF said.
What to know:
- The IMF praised El Salvador's stronger-than-expected economic growth and progress in bitcoin-related discussions.
- El Salvador's real GDP growth is projected to reach around 4%, with a positive outlook for 2026.
- Despite previous IMF recommendations, El Salvador continues to increase its bitcoin holdings, adding over 1,000 BTC during November's market downturn.
Top Stories
