Bitpanda
Professional, a preferred Austrian-based crypto change , introduced right now (Wednesday) a
rebranding and the profitable end of a financing spherical amounting to EUR 30
million. Nevertheless, based on the knowledge despatched to prospects, all of the entity’s
belongings have been bought, and the title has been modified to One Buying and selling.
As well as,
Reddit and Twitter customers report that the launch was not completely clean.
Buying and selling was suspended, and withdrawals from the blockchain and by way of the Bitpanda
Professional cell software weren’t functioning.
Bitpanda
Professional is a platform unbiased of Bitpanda retail brokerage, launched in 2019 to
present a regulated and safe place to change digital belongings. Bitpanda
determined to promote Bitpanda Professional to One Buying and selling however will retain a minority stake in
the enterprise. Nevertheless, the worth of this stake has not been disclosed.
“Since
we first launched Bitpanda Professional, given its potential, we at all times knew and deliberate
that its success would naturally make it evolve to develop into its personal
enterprise,” Eric Demuth, the CEO of Bitpanda, said in a press launch.
Nonetheless,
right now’s (Wednesday) press launch doesn’t describe the transfer as an acquisition however as a rebranding. It additionally speaks of a profitable funding spherical value EUR 30
million, led by Valar Ventures, a enterprise capital co-founded by the well-known
cryptocurrency entrepreneur Peter Thiel.
Our rebranding is a serious step to strengthen our crypto asset choices and addressing the dearth of regulated venues in Europe ?? we plan to launch varied subtle merchandise, like derivatives & extra spot crypto belongings, catering to each retail and institutional buyers. ?
— One Buying and selling (@onetrading_com) June 28, 2023
Though
Bitpanda Professional has modified house owners and its title, its present CEO, Joshua
Barraclough, will retain his place and can steer the brand new enterprise.
“We
need to make crypto buying and selling protected and accessible for all and bridge the hole to
present an institutional-grade platform for all buyer sorts,”
Barraclough stated.
Bitpanda will retain a stake within the enterprise, however the brand new firm will probably be absolutely separated from the primary Bitpanda group and proceed to develop superior buying and selling merchandise for retail buyers, professionals and institutional prospects.
Study extra: https://t.co/0RzqzmvsE2
— Bitpanda (@Bitpanda_global) June 28, 2023
One Buying and selling
has made vital modifications to the present Bitpanda Professional infrastructure,
aiming to permit customers to create and cancel orders in lower than 250
microseconds. The corporate additionally guarantees low charges, deep order books, and
liquidity safety. On the similar time, it desires to supply a membership mannequin
somewhat than the normal pay-per-transaction mannequin.
Though
the brand new Bitpanda Professional has made formidable guarantees in its official communication,
Reddit and Twitter customers report preliminary issues with One Buying and selling’s operation.
Customers of Bitpanda Professional Can’t
Withdraw Funds
In a Reddit
thread, a consumer named ‘gitarr’ reported that Bitpanda Professional prospects obtained
emails about ‘rebranding’ on Wednesday. Nevertheless, in actuality, this turned out to
be a sale of the change owned by Bitpanda to a brand new proprietor.
Remark
by u/gitarr from dialogue Bitpanda Professional Alternate is bought and rebranded to One Buying and selling – Belongings at present can’t be withdrawn
in CryptoCurrency
The web site
change.bitpanda.com, which till now directed to Bitpanda Professional, now results in
change.onetrading.com (One Buying and selling). Though the location is now functioning
usually, buying and selling remains to be suspended, and customers can not withdraw funds. Neither
blockchain withdrawals nor the Bitpanda Professional cell software is working.
‘Gitarr’ claims the change didn’t beforehand warn its customers that it was
planning to take such a step.
One other
consumer, ‘Goldbaerig’, means that the transfer may need been dictated purely by
regulatory points. Bitpanda is registered in Austria, the place the native
authorities has required centralized crypto exchanges (CEXs) to settle taxes on their
prospects’ behalf since 2024. Then again, One Buying and selling is situated within the
Netherlands, the place such laws don’t apply.
Remark
by u/Goldbaerig from dialogue Bitpanda Professional Alternate is bought and rebranded to One Buying and selling – Belongings at present can’t be withdrawn
in CryptoCurrency
Bitpanda stated it tied up with Coinbase a month in the past to assist the cryptocurrency
change with the European growth. The American change is utilizing Bitpanda’s
providers for catering to non-US establishments.
Bitpanda
Professional, a preferred Austrian-based crypto change , introduced right now (Wednesday) a
rebranding and the profitable end of a financing spherical amounting to EUR 30
million. Nevertheless, based on the knowledge despatched to prospects, all of the entity’s
belongings have been bought, and the title has been modified to One Buying and selling.
As well as,
Reddit and Twitter customers report that the launch was not completely clean.
Buying and selling was suspended, and withdrawals from the blockchain and by way of the Bitpanda
Professional cell software weren’t functioning.
Bitpanda
Professional is a platform unbiased of Bitpanda retail brokerage, launched in 2019 to
present a regulated and safe place to change digital belongings. Bitpanda
determined to promote Bitpanda Professional to One Buying and selling however will retain a minority stake in
the enterprise. Nevertheless, the worth of this stake has not been disclosed.
“Since
we first launched Bitpanda Professional, given its potential, we at all times knew and deliberate
that its success would naturally make it evolve to develop into its personal
enterprise,” Eric Demuth, the CEO of Bitpanda, said in a press launch.
Nonetheless,
right now’s (Wednesday) press launch doesn’t describe the transfer as an acquisition however as a rebranding. It additionally speaks of a profitable funding spherical value EUR 30
million, led by Valar Ventures, a enterprise capital co-founded by the well-known
cryptocurrency entrepreneur Peter Thiel.
Our rebranding is a serious step to strengthen our crypto asset choices and addressing the dearth of regulated venues in Europe ?? we plan to launch varied subtle merchandise, like derivatives & extra spot crypto belongings, catering to each retail and institutional buyers. ?
— One Buying and selling (@onetrading_com) June 28, 2023
Though
Bitpanda Professional has modified house owners and its title, its present CEO, Joshua
Barraclough, will retain his place and can steer the brand new enterprise.
“We
need to make crypto buying and selling protected and accessible for all and bridge the hole to
present an institutional-grade platform for all buyer sorts,”
Barraclough stated.
Bitpanda will retain a stake within the enterprise, however the brand new firm will probably be absolutely separated from the primary Bitpanda group and proceed to develop superior buying and selling merchandise for retail buyers, professionals and institutional prospects.
Study extra: https://t.co/0RzqzmvsE2
— Bitpanda (@Bitpanda_global) June 28, 2023
One Buying and selling
has made vital modifications to the present Bitpanda Professional infrastructure,
aiming to permit customers to create and cancel orders in lower than 250
microseconds. The corporate additionally guarantees low charges, deep order books, and
liquidity safety. On the similar time, it desires to supply a membership mannequin
somewhat than the normal pay-per-transaction mannequin.
Though
the brand new Bitpanda Professional has made formidable guarantees in its official communication,
Reddit and Twitter customers report preliminary issues with One Buying and selling’s operation.
Customers of Bitpanda Professional Can’t
Withdraw Funds
In a Reddit
thread, a consumer named ‘gitarr’ reported that Bitpanda Professional prospects obtained
emails about ‘rebranding’ on Wednesday. Nevertheless, in actuality, this turned out to
be a sale of the change owned by Bitpanda to a brand new proprietor.
Remark
by u/gitarr from dialogue Bitpanda Professional Alternate is bought and rebranded to One Buying and selling – Belongings at present can’t be withdrawn
in CryptoCurrency
The web site
change.bitpanda.com, which till now directed to Bitpanda Professional, now results in
change.onetrading.com (One Buying and selling). Though the location is now functioning
usually, buying and selling remains to be suspended, and customers can not withdraw funds. Neither
blockchain withdrawals nor the Bitpanda Professional cell software is working.
‘Gitarr’ claims the change didn’t beforehand warn its customers that it was
planning to take such a step.
One other
consumer, ‘Goldbaerig’, means that the transfer may need been dictated purely by
regulatory points. Bitpanda is registered in Austria, the place the native
authorities has required centralized crypto exchanges (CEXs) to settle taxes on their
prospects’ behalf since 2024. Then again, One Buying and selling is situated within the
Netherlands, the place such laws don’t apply.
Remark
by u/Goldbaerig from dialogue Bitpanda Professional Alternate is bought and rebranded to One Buying and selling – Belongings at present can’t be withdrawn
in CryptoCurrency
Bitpanda stated it tied up with Coinbase a month in the past to assist the cryptocurrency
change with the European growth. The American change is utilizing Bitpanda’s
providers for catering to non-US establishments.
