One Trading, formerly known as Bitpanda Pro, has emerged as a standalone company after a successful Series A funding round led by Valar Ventures. The cryptocurrency exchange, catering to institutional and professional traders, will be led by Josh Barraclough, who was previously a digital innovation executive at JP Morgan. The funding round secured €30 million, with participation from MiddleGame Ventures, Speedinvest, Keyrock, and Wintermute Ventures. Despite the spin-off, Bitpanda will still retain a stake in the new company. Bitpanda CEO Eric Demuth stated that the evolution into a separate business was anticipated and planned for, reflecting their belief in staying agile and focused in the crypto environment. One Trading aims to introduce a fast and scalable crypto exchange and become a utility platform for major liquidity providers. The team’s priority is to create a regulated, institutional-grade platform that provides security and establishes itself as a trusted solution for all participants. Bitpanda faced challenges during the bear market, leading to a reduction in its workforce. One Trading intends to operate as a MiFID Trading Venue and hold a VASP license.
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