Bitpanda Pro Rebrands to One Trading, Raises $33M in Series A

Exchange of digital assets Bitpanda Pro has acquired $33 (€30m) million in Series A funding as it rebrands as One Trading and completely separates from Bitpanda. The Austria-based trading firm intends to bridge the gap between crypto and traditional asset trading via a single regulated platform, as well as to expand its offering to retail and institutional clients.

Valar Ventures led the investment, 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."

Bitpanda, founded in 2014 by Demuth, Paul Klanschek, and Christian Trummer, was mostly focused on retail until the launch of Bitpanda Pro in 2019. Former JP Morgan Chase co-head of digital innovation Joshua Barraclough remains CEO of the newly rebranded One Trading. The goal is that One Trading will be able to reestablish trader trust and build product confidence at a time when crypto marketplaces are struggling to find regulated solutions. It intends to function as a MiFID Trading Venue, allowing it to list financial instruments and develop new products.

"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."