Bitpanda Pro, a cryptocurrency exchange, has become a separate company called One Trading. The newly formed company has secured €30 million ($33 million) in funding, led by Valar Ventures, founded by Peter Thiel.
One Trading aims to obtain an official MiFID trading venue license, enabling it to provide advanced trading products and services to institutional investors. Additionally, the company plans to expand its team and establish new offices across Europe.
Recent high-profile hacks and scams have disrupted the crypto industry. Consequently, some firms are strengthening their regulatory framework to attract institutional investors and gain regulatory confidence.
Seeking a MiFID license reflects One Trading’s belief in the maturation and mainstream integration of the crypto industry. Institutional investors are considered crucial for its growth and future success.
Further information regarding the funding round includes:
- Valar Ventures led the round, with participation from Jump Crypto, BlockFi Ventures, and other investors.
- The funding will be allocated towards team expansion, office establishment, and the development of new products and services.
- One Trading is actively pursuing an official MiFID trading venue license to cater to institutional investors with sophisticated trading offerings.
Although the crypto industry is still in its early stages, it is experiencing rapid growth. As the industry continues to mature, more companies will seek regulatory approval and introduce advanced products and services. This progression will attract institutional investors, ultimately establishing the crypto industry within the mainstream.
