- Bitpanda Pro metamorphoses into One Trading following the closure of a €30 million Series A funding round, hinting at significant advancements in the European crypto industry.
- One Trading, now operating independently, has set ambitious goals including the launch of USD trading pairs, derivatives offerings, and new crypto listings like Bitcoin and Ethereum.
One Trading, the transformative evolution of Bitpanda Pro, has set forth on its autonomous journey, underpinned by a successful €30 million Series A funding round. Since 2019, Bitpanda and Bitpanda Pro functioned as a unified entity. However, the recent capital influx catalyzed the separation, with Bitpanda Pro rebranding as One Trading.
Bitpanda, valued previously at around $4.1 billion, retains a minority stake in the newly formed entity, yet pursues independent operations for its future growth.
Peter Thiel’s Valar Ventures spearheaded the funding round, with participation from MiddleGame Ventures, Speedinvest, Keyrock, and Wintermute Ventures. These resources have carved a path for One Trading’s journey to regulatory accomplishments in the European financial landscape. Entrusted to the leadership of CEO Josh Barraclough, One Trading aims to provide a MiFID Trading Venue License-regulated platform to enhance its Virtual Asset Service Provider (VASP) registration in Italy.
In its endeavor to bridge the gap between retail and institutional customers in Europe, One Trading appears well-poised to leverage the emerging mainstream adoption of cryptocurrency.
“Its success would naturally make it evolve to become its own business,”
said Eric Demuth, CEO of Bitpanda, affirming the potential of the newly formed entity.
Significant support for Bitpanda’s native crypto token, BEST, is expected from One Trading. The BEST coin, traded at about €0.37 on Wednesday, is utilized as an incentive for Bitpanda traders, offering 15 percent annual rewards, largely viewed as a loyalty token with weekly payouts.
Europe’s cryptocurrency market could witness burgeoning growth, spurred by the recent approval of the Markets in Crypto Assets (MiCA) regulation by the EU. Despite the regulatory hurdles faced by major global exchanges like Binance in European nations, One Trading’s strategy incorporates anticipatory awareness of the challenging regulatory environment. The separation from Bitpanda allows One Trading to devote resources to AI-focused developments, providing innovative infrastructure for financial inclusion.
The integration of AI in cryptocurrency trading paves the way for AI bots, primed for wide market data analysis.
A new era beckons with One Trading’s plan to launch USD trading pairs, derivatives offerings, and announce new crypto listings like Bitcoin and Ethereum. The company’s future shines bright with promise as it navigates the regulatory intricacies and competitive dynamics of the European crypto market.
