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As it completes its independence from Bitpanda, Austria-based digital asset exchange One Trading, formerly known as Bitpanda Pro, has successfully raised €30 million (about $33 million) in a fundraising round. The recently established platform wants to increase the selection of cryptocurrency assets available to institutional and ordinary investors across Europe. With participation from MiddleGame Ventures, Speedinvest, Keyrock, and Wintermute Ventures, the fundraising round was headed by Valar Ventures, a billionaire venture capital firm co-founded by Peter Thiel.
The platform was first introduced in 2019 as Bitpanda Pro, offering institutional investors, individual investors, and financial professionals a secure and regulated trading environment. Bitpanda will continue to have an undisclosed minority position in One Trading with a valuation of $4.1 billion attained during a prior fundraising round in August 2021. CEO Eric Demuth said it was always expected that Bitpanda Pro’s success would result in its conversion into a stand-alone company.
Under the direction of CEO Joshua Barraclough, who joined Bitpanda in late 2021, One Trading intends to increase the complexity of its product offerings by adding derivatives and spot trading for complicated crypto goods. The objective is to provide a platform that is accessible to all client types and of institutional quality, ensuring secure and convenient crypto trading. In order to build a speedy and scalable exchange that allows for quick order formation and cancellation under 250 microseconds, significant infrastructure upgrades have been made. One Trading also provides cheap costs and deep order books for retail clients in an effort to draw liquidity providers through a membership model.
One Trading intends to run as a Markets in Financial Instruments Directive (MiFID) Trading Venue compatible with European Union laws as part of its expansion goals. The platform would be able to offer capital-efficient spot and derivative trading to all customers thanks to this compliance, which would improve its current Virtual Asset Service Provider (VASP) license. One Trading might further improve its trading environment by listing financial instruments and introducing new products if it were to achieve this status.
In conclusion, One Trading’s exit from Bitpanda and successful investment round represent a crucial turning point in its development into a stand-alone digital asset exchange. One Trading is ready to have a significant influence on the cryptocurrency market because to its expanded crypto services and dedication to creating a safe and convenient trading environment in European market.