European exchange Bitpanda to offer cryptocurrency derivatives

Soon derivative products on Bitpanda?

Bitpanda is a cryptocurrency exchange based in Europe that also offers exposure to precious metals, stocks and exchange traded funds (ETFs).

But the company does not seem to want to stop there and wants to offer derivatives trading to its informed clients in the near future. The exchange plans to recruit a trading manager for its product dubbed “Bitpanda Pro”, which is aimed at experienced traders.

Former JPMorgan executive Joshua Barraclough, who was hired to lead Bitpanda Pro at the end of October, said the company is recruiting a team of experienced salespeople to strengthen its presence in Europe including with institutional investors:

“We have a lot of new features and exciting new products coming up. As a specialized and professional exchange, the goal of Bitpanda Pro is to offer very complex financial instruments. “

Bitpanda has never offered any derivatives before, according to a spokesperson. The new offer dedicated to derivatives will be exclusively available to Bitpanda Pro customers.

The announcement does not specify whether derivatives trading will be accessible to French clients. Indeed, the Austrian exchange obtained the registration of Service Provider on Digital Assets (PSAN) with the AMF in December 2020. It was the first foreign structure to obtain the precious sesame to operate legally in France.

An exchange based in Europe

Launched in 2014, the exchange claims more than 3 million users and has more than 600 employees. 4 months after closing a $ 170 million fundraiser, Bitpanda had secured an additional $ 263 million as part of a Series C valuing the company over $ 4 billion.

This fundraiser was led by billionaire Peter Thiel’s fund (Valar Ventures) to expand the exchange’s expansion internationally. Besides Austria and France, Bitpanda has a presence in Spain, Turkey, Italy and Poland and plans to expand to other markets this year, opening offices in Madrid, Barcelona, ​​London, Paris and Berlin. .

Find our guide: Tutorial and opinion on Bitpanda


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About the author: Florent David

Engaged in the crypto ecosystem since 2017. I am particularly interested in decentralized finance (DeFi), Ethereum 2.0 and non-fungible tokens (NFTs).
All articles by Florent David.

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