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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2023\/06\/28\/bitpandas-crypto-exchange-separates-from-bitpanda-and-secures-33-million\/<\/a><\/br> Fintech startup Bitpanda<\/a> is splitting into two companies as Bitpanda Pro \u2014 the company\u2019s cryptocurrency exchange \u2014 is going to become its own independent company called One Trading. As part of this move, One Trading is also raising $33 million (\u20ac30 million) in funding.<\/p>\n Peter Thiel\u2019s Valar Ventures is leading the funding round, with participation from MiddleGame Ventures, Speedinvest, Keyrock and Wintermute Ventures.<\/p>\n Bitpanda is a popular consumer trading app that has raised hundreds of millions of dollars<\/a> and attracted millions of users in Europe. While the company started as a crypto broker and exchange, it then added the ability to buy and sell stocks, ETFs, precious metals like gold and commodities.<\/p>\n More recently, the company has been partnering with other fintech startups so that they can offer stock and crypto trading in their own apps. For instance, Lydia<\/a> and N26<\/a> both selected Bitpanda as their white-label trading partner.<\/p>\n In addition to these trading products designed for retail investors, Bitpanda has been running its own crypto exchange called Bitpanda Pro. This service is designed for institutional investors who handle large orders or businesses that want to trade using bots and the company\u2019s API.<\/p>\n And that\u2019s the part of the business that is becoming its own company called One Trading. Going forward, Bitpanda is still going to offer crypto trading \u2014 but it will act as a broker, not an exchange. A crypto exchange manages trades between different users while a broker acts as an intermediary between customers and different markets.<\/p>\n One Trading CEO Joshua Barraclough, who was already in charge of Bitpanda Pro, said in an email that Bitpanda and Bitpanda Pro are \u201cseparating so that they can build out a market leading product for sophisticated retail and institutional customers, with the right focus and investment to be successful. Bitpanda continues to operate, but no longer has an exchange or institutional OTC business.\u201d<\/p>\n Splitting the company also means that Bitpanda won\u2019t face as many regulatory challenges as One Trading. For instance, One Trading plans to offer derivatives, which are risky financial assets.<\/p>\n Similarly, in the U.S., crypto companies like Coinbase<\/a> and Binance<\/a> are facing lawsuits for securities law violations. While the regulatory landscape seems more stable in Europe for now, things could change in the future. Isolating Bitpanda from the crypto exchange activities seems smart to guarantee Bitpanda\u2019s long-term prospects.<\/p>\n
\nBitpanda\u2019s crypto exchange separates from Bitpanda and secures $33 million<\/br>
\n2023-06-28 21:50:16<\/br><\/p>\n