Bitpanda Pro Renames to One Trading, Finishes Funding Round

Bitpanda Pro Renames to One Trading, Finishes Funding Round

Bitpanda
Pro, a popular Austrian-based crypto exchange, announced today (Wednesday) a
rebranding and the successful completion of a financing round amounting to EUR 30
million. According to customer information, the name has been changed to One Trading.

From an email sent to Finance Magnates, it appears that the name was changed to prevent future confusion for customers between Bitpanda and One Trading.

Bitpanda Pro Becomes One
Trading

Bitpanda
Pro is a platform independent of Bitpanda retail brokerage, launched in 2019 to
provide a regulated and secure place to exchange digital assets. Bitpanda
decided to rename Bitpanda Pro to One Trading but will retain a minority stake in
the venture. However, the value of this stake has not been disclosed.

„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,” Eric Demuth, the CEO of Bitpanda, stated in a press release.

Today’s press release speaks of a successful funding round worth EUR 30
million, led by Valar Ventures, a venture capital co-founded by the well-known
cryptocurrency entrepreneur Peter Thiel.

Although
Bitpanda Pro was renamed, its current CEO, Joshua
Barraclough, will retain his position and steer the new venture.

„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.

One Trading
has made significant changes to the existing Bitpanda Pro infrastructure,
aiming to allow users to create and cancel orders in less than 250
microseconds. The company further promises low fees, deep order books, and
liquidity protection. At the same time, it wants to offer a membership model
rather than the traditional pay-per-transaction model.

Scheduled Service Maintenance

In a Reddit
thread, a user named 'gitarr’ reported that Bitpanda Pro customers received
emails about rebranding on Wednesday. In addition, some Twitter users have stated that such a significant change should have been communicated earlier.

Comment by u/gitarr from discussion Bitpanda Pro Exchange is sold and rebranded to One Trading – Assets currently cannot be withdrawn in CryptoCurrency

The website 'exchange.bitpanda.com’, which until now directed to Bitpanda Pro, now leads to 'exchange.onetrading.com’ (One Trading). Although the site is now functioning
normally, trading is still suspended, and users cannot withdraw funds. Neither
blockchain withdrawals nor the Bitpanda Pro mobile application is working.

However, according to information emailed to Finance Magnates, the service interruption was anticipated. The platform announced a maintenance window in line with the best industry practices.

„All markets will shortly reopen and all functionality will be restored,” the company commented.

Bitpanda said it was tied up with Coinbase a month ago to help the cryptocurrency
exchange with the European expansion. The American exchange is using Bitpanda’s
services to cater to non-US institutions.

This article was written by Damian Chmiel at www.financemagnates.com.

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