One Trading plans to introduce USD trading pairs, initiate derivatives offerings, and unveil additional cryptocurrency listings, such as Bitcoin and Ethereum.
With the successful closure of a €30 million Series A funding round, Bitpanda and Bitpanda Pro have made the decision to separate and embark on their individual paths. Bitpanda Pro, now rebranded as One Trading, will operate as an independent entity while Bitpanda retains a small stake in the new venture. This move reflects the remarkable growth and potential of Bitpanda Pro, which has prompted its evolution into a distinct business.
The separation was made possible through the support of prominent investors such as Valar Ventures, led by Peter Thiel, along with MiddleGame Ventures, Speedinvest, Keyrock, and Wintermute Ventures. As One Trading, the company will be led by the capable Chief Executive Officer Josh Barraclough, who will guide the organization towards even greater achievements within the regulated channels of the European market.
One Trading has already set its sights on expanding its operations through the acquisition of a MiFID Trading Venue License, which will bolster its Virtual Asset Service Provider (VASP) registration in Italy. Furthermore, the company aims to bridge the gap between retail and institutional customers in Europe, capitalizing on the increasing adoption of cryptocurrencies in mainstream finance.
Eric Demuth, the CEO of Bitpanda, expressed his anticipation for the natural progression of Bitpanda Pro into an independent business, given its immense potential. The close relationship between Bitpanda, previously valued at approximately $4.1 billion, and One Trading will endure, with the latter expected to facilitate trading of Bitpanda’s native crypto token, BEST. The BEST coin serves as an incentive for Bitpanda traders and holders, offering them 15 percent annual rewards. With a current trading value of around €0.37, the BEST token is widely recognized as a loyalty token, providing weekly payouts to its holders.
One Trading Future
The cryptocurrency market in Europe is poised for remarkable growth in the wake of the recent approval of the Markets in Crypto Assets (MiCA) regulation by the EU. Recognizing the importance of ensuring safe adoption and avoiding incidents like the FTX and Alameda Research implosion, individual state nations have taken proactive measures to control the cryptocurrency market. Notably, even the prominent global CEX Binance has faced regulatory challenges in various European countries, including Belgium and the Netherlands.
Amidst this global regulatory scrutiny, the One Trading team is well aware of the challenging road ahead. Nevertheless, they are confident in their ability to navigate these hurdles successfully. Many countries are diligently working on crafting their own crypto regulatory frameworks, which has led to a significant division within the industry. In light of this, the Bitpanda team remains committed to developing robust infrastructure for financial inclusion, with a particular focus on their AI-driven platform Bitpanda.ai.
Furthermore, the growing influence of artificial intelligence worldwide is set to revolutionize cryptocurrency trading. By leveraging AI bots that can process vast amounts of market data, the trading experience is poised to become more efficient and responsive. One Trading intends to capitalize on this trend by introducing USD trading pairs, expanding derivatives offerings, and announcing new crypto listings, including popular cryptocurrencies like Bitcoin and Ethereum. With these strategic moves, the company aims to solidify its position as a key player in the dynamic cryptocurrency market.