One Trading intends to launch USD trading pairs, launch a derivatives offering and announce new crypto listings including Bitcoin and Ethereum.
After operating as a single entity since 2019, Bitpanda and Bitpanda Pro have separated, rebranding to One Trading following the successful completion of a Series A funding round with €30 million. Per the announcement, Bitpanda will retain a minority stake in the new entity but will continue to operate independently on future growth prospects.
Notably, the funding round enabling the separation was led by Peter Thiel’s Valar Ventures and had participation from Middlegame Ventures, SpeedInvest, KeyRock and Wintermute Ventures. Thereafter, the new entity will be led by Chief Executive Officer Josh Barraclough, who will lead the company to greater achievements through regulated channels in Europe.
Already, One Trading is set to extend its Virtual Asset Service Provider (VASP) registration in Italy to operate via a MiFID trading venue license. Furthermore, the company aims to bridge the gap between retail and institutional clients in Europe amid mainstream cryptocurrency adoption.
Eric Demuth, CEO of Bitpanda, said: “Since we first launched Bitpanda Pro, seeing its potential, we always knew and planned that its success would naturally evolve it to be its own business. ” noted,
The relationship between Bitpanda – previously valued at around $4.1 billion – and OnTrading will continue, with the latter expected to support trading of the former’s native crypto token called BEST. Specifically, BEST Coins are used to incentivize Bitpanda traders and holders through 15 percent annual rewards. Trading around €0.37 on Wednesday, BEST Token is mostly seen as a loyalty token with weekly payouts.
Following a successful Series A funding round, Bitpanda Pro One Trading is evolving and becoming a separate company. While the Pro Team has always been fairly independent, we share the belief that this is the logical next step in achieving their full potential.
— Bitpanda (@Bitpanda_global) 28 June 2023
a business future
The cryptocurrency market in Europe is expected to flourish further after the European Union recently approved the Markets in Crypto Assets (MiCA) regulation. However, individual states have taken initiatives to regulate the cryptocurrency market to ensure safe adoption and avoid incidents like the FTX and Alameda Research explosions. Already, leading global CEX Binance has experienced regulatory hurdles in various European countries, including Belgium and the Netherlands.
As a result, the One Trading team understands that the times ahead will be challenging amid global regulatory scrutiny. Most countries are working on individual crypto regulatory frameworks, which has significantly divided the entire industry. The Bitpanda team intends to continue developing the infrastructure for financial inclusion through the AI-focused Bitpanda.ai. Furthermore, the rise of artificial intelligence around the world is expected to revolutionize cryptocurrency trading through AI bots that are more receptive to broader market data.
To begin with, One Trading intends to launch USD trading pairs, launch a derivatives offering and announce new crypto listings. Bitcoin And Ethereum,
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