One Trading to Launch “Fastest-Ever” Crypto Exchange
One Trading, a spin-off from Bitpanda, will soon launch its crypto exchange platform. The company claims that its F.A.S.T platform will be the fastest digital asset trading venue in the market. With a matching and risk engine that operates in less than one microsecond, One Trading allows users to perform over 200 round trips before placing an order. Amazon Web Services (AWS) independently tested the platform’s speed and found it to be 1,000 times faster than CME’s Matching Engine. One Trading plans to attract institutional traders by offering free trading on all crypto pairs and has applied for a MiFID II Trading Venue License in the European Union.
The Bitpanda Pro Spin-Off
One Trading emerged as a separate entity from Bitpanda Pro, an Austrian exchange catering to institutional traders. Led by Josh Barraclough, the former head of JPMorgan’s digital innovation division, the startup raised €30 million in a Series A funding round led by Peter Thiel’s Valar Venture. After beta-testing with market makers, One Trading’s platform will be open to both institutions and retail customers. The company hopes that its focus on speed will differentiate it in a crowded market of crypto exchanges.
Aiming for Differentiation through Speed
With CoinMarketCap tracking 227 spot exchanges globally, Greg McLoughlin, strategy and growth lead at One Trading, believes that their emphasis on speed will set them apart. He states that they aim to become the central risk transfer venue for major liquidity providers due to their price discovery and execution advantage. Offering free trading allows big institutions to exchange risk at lower costs. McLoughlin suggests that institutions have a fiduciary responsibility to trade on their venue given the advantages it offers in terms of cost and execution. One Trading expects to have significant liquidity and competitive pricing.
Hot Take: One Trading Aims to Revolutionize Crypto Trading with Unprecedented Speed
One Trading, a spin-off from Bitpanda, is set to launch its crypto exchange platform, promising to be the fastest-ever digital asset trading venue. With a matching and risk engine that operates at less than one microsecond, it outperforms established rivals such as the London Stock Exchange Group’s Turquoise venue and CME’s global Matching Engine. By offering free trading on all crypto pairs and focusing on speed, One Trading hopes to attract institutional traders. With its aim to redefine speed and efficiency in the world of crypto trading, One Trading could revolutionize the industry with its unparalleled advantages.
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