In a bold move that has sent ripples across the crypto trading market, Bitpanda Pro has announced its separation from Bitpanda and a rebranding to ‘One Trading.’ This comes on the heels of a successful €30 million Series A funding round, underscoring the platform’s growing prominence in the digital asset trading landscape.
Bitpanda Pro Separates With A Bright Future Ahead
Bitpanda Pro, a division of the Austrian cryptocurrency company catering to professional and institutional traders, has branched out into a separate entity under the guidance of Josh Barraclough, previously the head of digital innovation at JPMorgan.
The newly formed entity, named One Trading, has successfully garnered €30 million in a Series A funding round, as per a recent announcement.
Bitpanda has consistently prioritized adaptability and concentration to deliver exceptional services. From its inception in 2019, Bitpanda Pro was recognized for its vast potential and was envisioned to eventually stand on its own.
Following a successful €30m Series A funding round spearheaded by Peter Thiel’s Valar Ventures, Bitpanda Pro has now metamorphosed into One Trading. While Bitpanda will continue to hold a minor stake, One Trading is set to operate independently, providing it with the freedom to innovate and expand more dynamically.
Bitpanda CEO Eric Demuth said, “It is our philosophy at Bitpanda that you have to stay agile and focused to provide the best services in this fast environment. Since we first launched Bitpanda Pro, given its potential, we always knew and planned that its success would naturally make it evolve to become its own business.”
Barraclough, who came on board Bitpanda in October 2021 to oversee the Pro product, stated that One Trading is on the verge of launching what he describes as “the most rapid and scalable exchange” in the cryptocurrency.
One Trading Plans To Launch Fully Regulated Derivatives Services
Introducing One Trading, under the stewardship of CEO Josh Barraclough, the company is dedicated to making cryptocurrency trading secure and accessible to all. Their mission is to serve as a bridge between retail and institutional clients by providing a platform that meets institutional-grade standards.
Furthermore, they aim to fill the void of regulated venues in Europe by introducing advanced trading products tailored for professional traders and institutional clients.
In terms of regulatory compliance, One Trading intends to function under a MiFID Trading Venue License, thereby augmenting its existing Virtual Asset Service Provider (VASP) registration in Italy.
As One Trading sets sail on its autonomous voyage, Bitpanda pledges to uphold a friendly alliance. The availability of BEST token, Bitpanda’s ecosystem token, for buying and selling will persist on One Trading.
The trading experience of BEST on One Trading is expected to mirror its previous operations on Bitpanda Pro, with no discernible changes in fees or BEST Rewards.
Simultaneously, Bitpanda is keen to shift its focus towards amplifying the features of BEST on Bitpanda broker and further fortifying the ecosystem as an integral part of their Investing-as-a-Service provision, known as Bitpanda Technology Solutions.
Eric said, “We aim to become a utility for large liquidity providers to exchange unlimited amounts of risk under a membership model instead of pay-per-trade and have low fees and deep books for retail with a number of liquidity protections. We will then start listing more products with appropriate controls and vetting as we move into derivatives. Above all we want a regulated, institutional-grade platform where people feel safe to trade with unique product options.”
One Trading has immediate plans to initiate USD trading, roll out a comprehensive suite of advanced tools, list new assets, and introduce a fully-regulated derivatives offering (license application in progress).
On the other hand, Bitpanda will persist in its mission to make wealth creation accessible to all, while simultaneously continuing to revolutionize the industry with innovative solutions like the launch of Bitpanda.ai.
