Live Markets, Charts & Financial News

Bitpanda Pro Morphs to One Trading after Closing Series A Funding Round with €30 Million

0 23

One Trading intends to launch USD trading pairs, launch derivatives offerings, and announce new listings for cryptocurrencies including Bitcoin and Ethereum.

After operating as a single entity since 2019, Bitpanda and Bitpanda Pro have separated with the latter rebranding to One Trading following the successful closing of a €30 million Series A funding round. According to the announcement, Bitpanda will retain a small stake in the new entity but will continue to operate independently in future growth prospects.

Notably, the funding round that enabled the breakaway was led by Peter Thiel’s Valar Ventures and featured participation from MiddleGame Ventures, Speedinvest, Keyrock and Wintermute Ventures. Moving forward, the new entity will be led by CEO Josh Baraclough, who will lead the company towards greater accomplishments through regulated channels in Europe.

Already, One Trading is set to operate through the MiFID Trading Venue License to promote the registration of a Virtual Asset Service Provider (VASP) in Italy. Moreover, the company aims to bridge the gap between retail and institutional customers in Europe amidst mainstream cryptocurrency adoption.

“Since we first launched Bitpanda Pro, given its potential, we have always known and planned that its success would naturally evolve into a business of its own,” said Eric Demuth, CEO of Bitpanda, male.

The relationship between Bitpanda — previously estimated at $4.1 billion — and On Trading will continue to stand, with the latter expected to support trading of the native crypto token dubbed BEST. Notably, the top coin is used to incentivize Bitpanda traders and owners with 15 percent annual bonuses. Trading around €0.37 on Wednesday, the best token is mostly seen as a loyalty token with weekly payouts.

One trading future

The cryptocurrency market in Europe is expected to thrive further after the recent approval of the Markets in Crypto Assets (MiCA) Regulation by the European Union. However, individual countries have taken the initiative to control the cryptocurrency market to ensure safe adoption and avoid cases similar to the internal explosion of FTX and Alameda Research. Already, global flagship CEX Binance has faced regulatory hurdles in various European countries including Belgium and the Netherlands.

As a result, the One Trading team understands that it will be a challenging time amid global regulatory scrutiny. Most countries operate on individual cryptocurrency regulatory frameworks, which has severely divided the entire industry. The team at Bitpanda intends to continue developing the infrastructure for financial inclusion with its AI-focused Bitpanda.ai. Moreover, the advent of AI across the globe is expected to revolutionize cryptocurrency trading with AI bots that are more receptive to broad market data.

First of all, One Trading intends to launch USD trading pairs, launch derivatives offerings, and announce new listings for cryptocurrencies including Bitcoin and Ethereum.

the next

Blockchain news, Cryptocurrency news and news


Let’s talk about cryptocurrencies, Metaverse, NFTs, CeDeFi, and Stocks, and focus on multichain as the future of blockchain technology. Let’s all win!

Leave A Reply

Your email address will not be published.