Crypto exchange Bitpanda Pro has spun out into a separate business named One Trading, led by Josh Barraclough, former head of digital innovation at JPMorgan Chase. The new entity raised €30 million in a Series A funding round led by Valar Ventures with participation from MiddleGame Ventures, Speedinvest, Keyrock and Wintermute Ventures.
Founded in 2014 and based in Vienna, Bitpanda was largely retail-focused until the launch of its Pro product in 2019.
One Trading said it intends to operate as a MiFID Trading Venue. The MiFID licence will also allow the startup to list financial instruments, it added. It also has a VASP licence.
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