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Bitpanda Pro rebrands to One Trading, raises €30m Series A

The new entity will stand alone from Bitpanda, which will retain a stake in the company.

Josh Barraclough One Trading

Josh Barraclough/One Trading.

Digital asset exchange Bitpanda Pro has raised €30m Series A as it rebrands to One Trading and fully separates from Bitpanda.

The European trading company aims to bridge the gap between crypto and traditional asset trading through one regulated platform and to strengthen its offering to both retail and institutional investors.

The funding round was led by Peter Thiel’s Valar Ventures with participation from MiddleGame Ventures, Speedinvest, Keyrock and Wintermute Ventures and Bitpanda retaining a stake in the company.

“It is our philosophy at Bitpanda that you have to stay agile and focused to provide the best services in this fast environment,” Bitpanda CEO Eric Demuth said. 

“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.”

Founded by Demuth, Paul Klanschek and Christian Trummer in 2014, Bitpanda was predominantly focused on retail until it launched Bitpanda Pro in 2019.

Joshua Barraclough, former co-head of digital innovation at JP Morgan Chase remains CEO of the newly rebranded One Trading.

The hope is that One Trading will be able to regain trust in traders and build confidence in products at a time when crypto markets are struggling to come up with regulated solutions.

It plans to operate as a MiFID Trading Venue, which would allow it to list financial instruments and for new products to be designed.

“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.

“We will be going live shortly with what we believe to be the fastest and most scalable exchange based on real world metrics available to a shared retail and institutional audience. 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.”

After that, One Trading will start listing more products as it enters the derivatives space.

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