One Trading, the Austria-based digital asset exchange formerly known as Bitpanda Pro, has announced a successful €30 million (roughly $33 million) funding round as it separates entirely from Bitpanda. The new platform plans to expand its crypto asset offerings for retail and institutional investors throughout Europe. The raise was led by Valar Ventures, co-founded by billionaire entrepreneur Peter Thiel, and featured participation from MiddleGame Ventures, Speedinvest, Keyrock, and Wintermute Ventures.
Bitpanda initially launched Bitpanda Pro in 2019 to provide a regulated platform for retail traders, finance professionals, and institutions, said Joshua Barraclough, CEO of One Trading and former co-head of digital innovation at JPMorgan in London. The company—which hit a $4.1 billion valuation during a funding round in August 2021—will retain an undisclosed minority stake in One Trading.
The news comes on the same day that Volatility Shares 2x Bitcoin Strategy ETF (BITX), the first leveraged bitcoin (and crypto) ETF in the U.S., started trading on Tuesday, witnessing $5.5 million of volume on its first day, according to data from Bloomberg.
Meanwhile, dollar-pegged stablecoin TrueUSD (TUSD) is trading at a discount relative to peer tether (USDT) on Binance.US, the U.S. subsidiary of Binance. At press time, the TUSD/USDT pair traded at 89 cents on Binance.US, having hit a low of 80 cents on Wednesday, data from charting platform TradingView show.