Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitpanda Pro Rebrands, Raises $33M in Peter Thiel-Led Round

Bitpanda Pro Rebrands, Raises $33M in Peter Thiel-Led Round

CoindeskCoindesk2023/06/28 10:25
By:Brandy Betz

The crypto exchange has split from Bitpanda and now operates as One Trading.

Bitpanda Pro CEO Joshua Barraclough will head One Trading (One Trading)

Austria-based One Trading, the digital asset exchange formerly known as Bitpanda Pro, has announced a successful €30 million (roughly $33 million) funding round as it separates entirely from Bitpanda. The new platform plans to expand its crypto asset offerings for retail and institutional investors throughout Europe. The raise was led by Valar Ventures, co-founded by billionaire entrepreneur Peter Thiel, and featured participation from MiddleGame Ventures, Speedinvest, Keyrock and Wintermute Ventures.

Bitpanda initially launched Bitpanda Pro in 2019 to provide a secure and regulated platform for retail traders, finance professionals and institutions. The company – which hit a during a funding round in Aug. 2021 – will retain an undisclosed minority stake in One Trading.

"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," said Eric Demuth, CEO of Bitpanda, in a press release.

One Trading will continue to be led by Bitpanda Pro CEO Joshua Barraclough, who after a stint as co-head of digital innovation at JPMorgan in London. One Trading aims to offer complex crypto products such as derivatives and spot trading for both institutional and retail customers.

“We want to make crypto trading safe and accessible for all and bridge the gap to provide an institutional-grade platform for all customer types,” Barraclough said in the press release

To achieve this goal, One Trading has implemented significant infrastructure changes to launch a fast and scalable exchange where orders can be created and canceled in under 250 microseconds. One Trading will also offer low fees and deep order books for retail customers plus liquidity protections.The platform hopes to attract large liquidity providers through a membership model rather than the traditional pay-per-trade model.

One Trading intends to operate as a European Union-compliant Markets in Financial Instruments Directive (MiFID)Trading Venue, which would enhance its existing Virtual Asset Service Provider(VASP) license. The framework would allow One Trading to provide capital-efficient spot and derivative trading to all customers. The platform would also have the ability to list financial instruments and design new products.

Edited by Stephen Alpher.

180

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

July 2024: Optimizing Balanced Through New Development

In July, ICON advanced its integration efforts and optimized system performance. Key achievements including completion of audits for Stellar, and contracts for Solana. Looking ahead to August we anticipate the deployment of Sui contracts to mainnet.|

Icon Foundation Blog2024/08/06 11:15
July 2024: Optimizing Balanced Through New Development