The Bitpanda Pro crypto platform became independent under the One Trading brand. The structure closed a €30 million Series A funding round led by Peter Thiel’s Valar Ventures.
Bitpanda will retain a stake in the business, but the new company will be fully separated from the main Bitpanda group and continue to develop advanced trading products for retail investors, professionals and institutional customers.
Learn more: https://t.co/0RzqzmvsE2
— Bitpanda (@Bitpanda_global) June 28, 2023
Also participating in the round were MiddleGame Ventures, Speedinvest, Keyrock and Wintermute Ventures.
Parent company Bitpanda will retain an unnamed stake in the business. Unlike the former “daughter”, which was focused on professional and institutional traders, the firm will continue to focus on retail users.
One Trading positions itself as a MiFID compliant trading platform with a license VASP. The structure is ready to offer “capital efficient spot and derivative products” to a wide range of clients.
In October 2021, Joshua Barraclow, former head of digital innovation at JPMorgan, became the CEO of Bitpanda Pro.
Two months earlier, the marketplace raised $263 million from Alan Howard and Peter Thiel’s Valar Ventures, among other investors. The company’s valuation reached $4.1 billion. The company promised to use the raised funds for international expansion and business scaling.
Last June, the platform laid off 730 employees in a bear market.
Recall that in October 2022, the German neobank N26 announced the addition of the possibility of trading digital assets through cooperation with Bitpanda.
Found a mistake in the text? Select it and press CTRL+ENTER
ForkLog Newsletters: Keep your finger on the pulse of the bitcoin industry!